Author Topic: Impossible search term "mortgage payoff account"  (Read 946 times)

thorbjorn88

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Impossible search term "mortgage payoff account"
« on: August 10, 2017, 05:22:31 PM »
The other day I saw someone mention something about this idea but I don't remember what thread it was under and I can't come up with an effective search term to find anything. The basic idea is instead of paying extra on your mortgage you put the extra money into a taxable investment account, then use it to pay off your mortgage. Is there a name for this? Is this a wise thing to do? I like the idea of having the flexibility to use that money as a down payment on an investment property if that's what I want to do later.

MommyCake

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Re: Impossible search term "mortgage payoff account"
« Reply #1 on: August 11, 2017, 05:00:32 AM »
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/dont-payoff-your-mortgage-club/

Is this thread started by boarder42 the one you mean?  The basic idea is that you will have greater returns by investing your money in a taxable account than by paying your mortgage early.  If your mortgage interest is 4%, and you are earning on average 7-12% or more in your investment account, it seems to make sense that you should apply your extra resources to the taxable account than to your mortgage.  You can read all through the thread to see arguments for and against. 

thorbjorn88

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Re: Impossible search term "mortgage payoff account"
« Reply #2 on: August 11, 2017, 10:20:45 AM »
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/dont-payoff-your-mortgage-club/

Is this thread started by boarder42 the one you mean?  The basic idea is that you will have greater returns by investing your money in a taxable account than by paying your mortgage early.  If your mortgage interest is 4%, and you are earning on average 7-12% or more in your investment account, it seems to make sense that you should apply your extra resources to the taxable account than to your mortgage.  You can read all through the thread to see arguments for and against. 

Thank you! That's exactly what I was looking for I just couldn't find it and had no idea how to look!

MDM

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Re: Impossible search term "mortgage payoff account"
« Reply #3 on: August 11, 2017, 05:44:02 PM »
...no idea how to look!

One way (note the check mark):

Filtering by poster name (aka user) and/or message age may also help.

Another way: The Forum "Search" Feature.

Sometimes one way works better than the other...so good luck!

Captain and Mrs Slow

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Re: Impossible search term "mortgage payoff account"
« Reply #4 on: August 14, 2017, 02:07:23 AM »
even better google +MMM+Forum+ your search term

search sucks here
I Embrace Frugality so I can have my Cake and Eat I Too

Forum Search sucks: forum = MMM + Search term in Google