Why you should pay off your mortgage before you retire The By Ilyce Glink and Samuel J. Tamkin October 24 at 7:30 AM (BigStock) I saw your excellent article on how much it costs to own a house after the mortgage is paid off. The costs remain in perpetuity! Is it always a good idea to pay off a mortgage, though? A house “free and clear” means a large asset that provides no financial opportunity to the owners.Questions? Contact David Krushinsky Today!