Do Southfield, MI Retirees Really Need a Paid-Off House? Pros and Cons of Carrying a Mortgage
For many Southfield retirees, the idea of retirement is tightly wrapped around one image: a home with no mortgage payment. The thinking is understandable. No mortgage means lower monthly bills, less stress, and the comfort of knowing the house is truly yours. But the reality on the ground in Southfield and the broader metro Detroit market is more nuanced. I sit across from retirees and pre-retirees every year who are wrestling with the same question: Am I better off drai