What should you do if you want to implement the SM, but your mortgage is not due now? If you are just buying your home or your mortgage is due now, you can just go get the best SM mortgage and start. But what if it is not due? Some mortgage brokers would encourage you to always pay the penalty to refinance, citing the huge tax benefits you will get. However, you will get these benefits anyway if you wait, and you could pay significant penalties to get out of your existing mortgage. This may or may not really benefit you. It is worth doing the math. Read more…

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