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MLN's latest Mortgage Bytes follow below.
The other day a Global News newsletter subscriber stopped me on the cyber-street and asked if accelerating principal repayment is worth it. I'm sharing the answer here in case readers come across similar questions...or need an idea for a client CRM email.
The Question:
"I’ve heard that trying to pay down your mortgage is a financial myth. You need only pay your interest, and when you sell your house, the increased equity will put you further ahead than trying to pay as much of the principal as you can during the course of your amortization. It leaves you with more cash for other expenses. Is there any logic to this approach?"
—Global News Money123 subscriber
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