To be clear, I never intended to imply that ER was “foolish” to pay off his MR. If he knows he will own the property more than ten years from the date he paid it off, then he got a BIG discount by doing so. He will save himself ~$6K for every year he owns it past 10 years, until the bonds are paid off (2033? not sure). So the payoff made sense for him and he was able to do it :=]
