[mr_hammer]

I would take a grain of salt with what Pukin Dog has to say, my wife is a CPA who owns her own firm and regularly advises people to pay down there mortgage debt as soon as possible and seek out other investments that can generate revenue nad or be tapped in case of an emergency. I am 44 years old and there is nothing like having a boat load of equity in the ole homestead just in case.

Once you get the credit card debt eradicated, look to put away at least 6 months worth of funds in a safe investment and then you can get aggressive in other investments.

Cash flowing out the smallest mortgage is a recipe for disaster in this day an age. Your are young so take advantage of it. TIME IS ON YOUR SIDE!

[speekinout]

Whether or not to pay off a mortgage is probably the most controversial question in financial planning. I've talked to various successful and well-respected financial planners and have heard advice to pay off the mortgage; never pay off the mortgage in your personal residence, but be wary of mortgages on investment property (just don't buy much); or buy as much as you can with the biggest mortgages you can get.

I think a lot of it depends on the current value of your house and the mortgage rate you can get. It makes no sense to me to have hundreds of thousands of dollars just sitting there doing nothing, when you could have a 5.5% mortgage (4% after tax deductions) and be using that money to generate a conservative 6-8% return.
Of course, that assumes you can afford to pay the mortgage on current income.