[ambrose]

Owning a house free and clear isn't a terribly smart move, at least in asset protection terms. If some kid scales your wall and drowns in your swimming pool, your home insurance policy limits could be blown off and the deceased kid's parents would end up owning your house. Homestead exemption doesn't apply past 100k.

[Polybius]

Owning a house free and clear isn't a terribly smart move, at least in asset protection terms. If some kid scales your wall and drowns in your swimming pool, your home insurance policy limits could be blown off and the deceased kid's parents would end up owning your house.

So be it.

I own two houses free and clear. One of them now pops out $1,400 per month in rental income and the money that would have gone every month to the bank on the other house gets plowed into building our wealth every month.

A life spent in perpetual fear of lawyers is a life not worth living.