Great answers but I have to disagree. Since you’re half way thru the mortgage, you already paid about 70% in interest. You get your break from the real estate tax, not the interest. If you have any doubts, just ask a CPA or a tax lawyer.

I agree. There is no benefit to paying the mortgage off. However, there is always a benefit to maintaining liquidity. In the event that an unforeseen emergency or an unforeseen opportunity should arise, you will have the availability to respond with this cash if you wish to do so.

Whenever you do pay off the mortgage, the lender will or should provide you with a Mortgage Discharge along with your other payoff documents. Be sure to record this document at the Registry of Deeds. It is always a time consuming and inconvenient problem to track these down years later when you wish to sell or transfer the property, especially if your lender has gone through a merger or two.

I agree, plus have some money in the bank will be handy for emergencies.

Am I missing something here, your are paying intrest at 7.5% and you investment will return 3.5%?

Then pay off the mortage!

yes with the times being the way the are is also nice to have a nice chunk of money in case it gets any worse!!! i.e. job loss!!!!