Northern Michigan Real Estate Blog Estate Northern Michigan Real Estate Blog Northern Michigan Real Estate news, commentary and market information you can't get anywere else! Published by Stefan Scholl, real estate attorney and broker/owner of Buyer's Broker of Northern Michigan, LLC, an exclusive buyer agency specializing in buyer representation and relocation for Petoskey, Harbor Springs, Charlevoix, Bay Harbor, Boyne City, Walloon Lake and Burt Lake real estate. Don't rush to pay off your low interest, tax-deductible mortgage, according to a recent study entitled "The Tradeoff Between Mortgage Prepayments and Tax-Deferred Retirement Savings, " which was authored by Clemens Sialm of the University of Michigan's Ross School of Business, Gene Amromin of the Federal Reserve Bank of Chicago and Jennifer Huang of the University of Texas at Austin. According to the study, at least 38% of U.S. households that are accelerating their mortgage payments instead of saving in tax-deferred accounts are making the wrong choice, a mistake which is costing U.S. households about 1.5 billion dollars per year.
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