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My point is if you short your reserve to pay off a mortgage, borrowing at a time of need may be difficult. So the comfort of a paid-off mortgage needs to be weighed against the discomfort of added risk. Of course, if one can payoff a mortgage and maintain an ample reserve, however one defines ample, all the better. In any case, the deductibility of mortgage interest is a minor consideration; the loss of ROI less so.
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