Originally Posted by teachme
We are about to close on the first step of our dream by buying <20 acres and we can't wait to get out there but now reading this I'm even more motivated to pay it off sooner.
Do the math first. Most of these decisions are based on the emotional 'Whew, I paid it off, don't have that debt hanging over my head' feeling, but they ignore the fact that you don't have the money anymore either. It's locked up in your house equity, and less liquid.
Is that always a good thing? I'm not so sure.
It may still be good to pay it off, just don't jump to the conclusion that it is always better, or that it is much better.