Prepaying loan on second home pays off

Rate of return often greater than on savings accounts, stocks

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Big-ticket items have been relegated to the back burner for now. The reduce-your-debt environment continues -- just ask the major home-improvement contractors who have taken on more and more jobs. Consumers clearly are pulling in the financial reins. One of the reasons Congress has passed a stimulus package is to get Americans to loosen their grip, spend more cash and begin to turn the economy around. I've always been a pay-it-off kind of guy when it comes to home loans. I believe there are huge benefits -- financial and philosophical -- to owning the roof over your head. When that roof now covers your office, as it does for millions of small-business owners across the country, isn't there an extra incentive to make a bigger dent in the domestic debt load as we get older? Now, with the residential real estate market in slow motion, consumers are looking at all sorts of ways to reduce their debt, save interest dollars and pave a faster path to real equity. But should ...