The economic environment is much different today then in 1929, can we agree on that? The rules of money are also very different as well. We also don't live in the same house for 30 years, keep the same job until retirement, rely on a pension to get us through retirement, and certainly can't bank on social security either.

If all of this is true, then why do people still look at a Mortgage the same way? For example, we are told that we need to put 20% down or more, we should pay off our mortgage as quickly as possible, we should send in extra money with our mortgage payment, we should enroll in a bi-weekly payment plan, and we should shop around until we get the lowest rate.

Yes a Mortgage is a 30 Year vehicle, but if you're not going to utilize it for 30 years, then why are the above strategies still implemented? I'll tell you why. Comfort, everyone else does it, your parents and grandparents did it and tell you to do it, and therefore it must be the right thing to do.

In reality, here is what you are doing by implementing these strategies.

• You are investing your hard earned money into a vehicle (your house), which earns a whopping 0% rate of return.
• You are giving all of your extra money to the bank so they can earn interest on it versus you building wealth.
• You are trapping all of your hard earned money in a vehicle that won't allow you to access it when you need it. (You have to refinance or sell to get it, and what if you can't do either)

Ok, I think you are starting to get the idea. Mortgage Planning is the concept of sitting down with a qualified Mortgage Professional and coming up with the best mortgage strategy for you based on your short and long term goals. It's that simple. You ultimately decide what you want to do, we give you information so you can make an informed decision.