Paying Off Mortgage

 

Quora: I heard that completely paying your house mortgage is unwise. Is it true? If it is, why?

Highlighted answer:
Whether it is “wise” or not depends on the individual circumstances.

Case:
– inherited parent’s house
– sold it, put the money in a separate account in GICs, let it grow until it was more than what was left in the mortgage
– paid the mortgage all off
– point:
most of the first years mortgage payment is the interest
still has more principle to pay