In Florida, there is value in paying off a house since the house is sheltered from creditors. If you fall on hard times or get sued, your creditors cannot take you house. Liquid cash can be seized but not the house.
That’s why Wall Street executives(and OJ Simpson) all have houses in Florida paid in cash.
Who knows? You might run over a mother and child tomorrow. Or your son might go on a rampage using your gun (see related thread). In that case, you’ll most likely be sued for every penny you have.
