Retiring in 2026? 4 Ways To Get Out From Under a Mortgage

Core Perspective - The article emphasizes the importance of being mortgage-free by retirement to reduce financial stress, as carrying a mortgage can be burdensome without a steady paycheck [1]. Group 1: Strategies to Eliminate Mortgage Before Retirement - Selling the house is highlighted as the quickest way to eliminate a mortgage, especially if the sale generates significant cash that can be used to purchase a smaller, more affordable home outright [3]. - Selling other assets, such as stocks, can also provide cash to pay off the mortgage, but this may incur high tax costs, particularly if assets are sold within a year of purchase [4][5]. - Tapping into savings to pay off the mortgage is an option, but it poses risks of depleting retirement funds, leading to potential financial stress in the future [6]. - Making extra payments towards the mortgage can be effective if the homeowner is close to paying it off or has sufficient extra funds available [8].