27 years in finance and I still can’t believe this advice is handed out at every bank branch in the country.
Extra mortgage payments don’t build your wealth. They build the bank’s security.
The moment you lose your income, that equity is completely out of reach. The bank decides if you qualify to access your own money.
This is one of the most expensive myths in personal finance. And it’s costing homeowners hundreds of thousands of dollars over a lifetime.
I cover this — and everything else the banks hope you never figure out — in Your Home Is Not an Asset.
Available now on Amazon.