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I will ponder this some more. Right now, according to Quicken, if I throw $1k/month at the debt I'll have the house paid off in less than 7 years. That's six years longer than I'd like. I will have to look at what my risk tolerance is and the likelihood I will earn more in the market (after fees and taxes) short term vs. just applying it to the principal.

Okay, I haven't read further ahead, but can you explain why 6 more years is so objectionable to you? You took out a 15 yr. mortgage, correct? Why do you want to pay it off so quickly?

I think the reason most people suggest that mortgage debt is good debt probably has to do with the house itself being worth significantly more than the amount owed against it, even with the interest, whereas unsecured debt is just debt. It could also have something to do with the fact that you are always going to have some sort of money being paid out for housing, whether it's for a mortgage or just for the insurance and property taxes on the house.

I do feel your pain. We owe less than $20K on our 15 yr mortgage principal and I would love to pay it off early. On the plus side, I know we have over #100K equity available if we decided to sell.

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