Should I pay off my Mortgage? CNN Money

By Lisa Gibbs, Money MagazineFebruary 23, 2011: 4:46 PM ET

(MONEY Magazine) — When there was easy money to be made in real estate and stocks, mortgage debt seemed like nothing to fear. Now an increasing number of homeowners are wondering if it makes sense to hasten the day they can say goodbye to a big monthly expense while earning the equivalent of a decent, guaranteed return.

“I’m hearing this question more now that clients aren’t feeling as comfortable about the market,” says Los Angeles area financial planner Eileen Freiburger.

Maybe you’re part of a young family, and whittling down your loan balance seems like a sound strategy. Or maybe you’re counting down to retirement (perhaps even already kicking back), have only a few years of payments left, and are wondering if you should just knock off the balance.

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