Live chat

David Bach: Pay off that mortgage early

Sep. 21, 2011 at 12:26 PM ET

Today Money financial expert David Bach joined us for a live Web chat Wednesday to answer your questions.

Here’s one of his answers to questions from the live chat. (See below for the full Q&A and video of David’s TV appearance this morning.)

One chat guest asked:

“Hi David, Where do you stand on the debate between paying off your mortgage early vs. getting a big, long mortgage, never paying it off and using the extra money to invest?”

David replied:

“Love this question. I think you are better off to pay that mortgage off early. Less debt means more freedom. I wrote a new book this year called Debt Free For Life, and the entire goal and mission of this book is to help you buy back your freedom. Paying off your home early can save you tens of thousands of dollars in interest, and often upwards of six figures if you have a big mortgage. Good luck!”

Here’s the full chat archive and David’s TV appearance:


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