Paying Down Mortgage Faster Can Make Sense -- Sometimes

With the markets so dicey, many people who come into extra cash wonder whether they should avoid stocks and bonds and use the money to pay down their mortgage instead. Doing so can save you a lot in interest in the long run. But your monthly payments may remain the same until you pay off the entire loan. And if you have an attractive rate -- say, in the 5 percent range for a fixed loan -- there's no need to rush to pay it off.

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