House Rich & Cash Poor – Paying off Mortgage Fast?

The conventional wisdom is that one is encouraged to pay off his mortgage ASAP.  How does that do for your tax deductions?  The annual tax benefit steadily ebbs away as no tax deductions are available on interest (no interest without loan/mortgage) since the house is paid for in full.  It is very difficult for an average person to grow his arbitrage effectively if he cannot take advantage of the tax deductions on interests paid on mortgages, take the equity on the home out and invest it in tax-favored growths, etc.  This approach of paying off mortgage in order to become mortgage-free is known in some quarters as cost of forfeiting future equity earnings (COFFEE).  Break the mold, start a new approach to wealth-building and there are many books in the market today that can help you, understand the smart way of growing wealth with what you have right now, your home.  Untapped Riches by Susan and Anthony Cutaia (http://www.amacombooks.org) and another very good good is written by Marian Snow called Stop Sitting on Your Assets.  One can get free tickets to her HERO Solution Workshop by either going to her website, http://www.StopSittingOnYourAssets.com or calling toll-free 1866-404-HERO (4376).  Better still you can google making money or growing wealth through home equity or a combination of this and you will see for yourself tons of information. Be disciplined, start growing your wealth with what you already have, it is that simple!

Good luck and may the universe reward you because you have a millionaire mind!