Presuming Upon the Future
"The rich rule over the poor, and the borrower is servant to the lender" (Prov 22:7).
"Do you think I should pay off my mortgage?" I said to the investment counselor.
"Oh, absolutely not; you can use that money to invest and make more than what you are paying in mortgage interest. Plus, you will get an interest deduction from your mortgage."
This was the counsel I got from a Christian investment counselor years ago when I had the chance to pay off all my debts—including my home mortgage. I chose to follow his advice and lived to regret it.
It was not long after that I was thrust into a seven-year adversity that took all the financial assets I had available that could have paid that mortgage. Through a series of unusual circumstances, that money was gone.
The world's wisdom presumes upon the future. Debt is one of those instruments that has the ability to make one a servant to it. I don't believe the Bible speaks totally against debt, but gives a strong warning that debt can be an evil taskmaster and if you choose to use it we need to know the consequences. After that experience I decided to commit myself to becoming debt free. And, if I ever had the opportunity to pay off my mortgage again, I would do it. The time came again for this opportunity several years later. The same financial counsel was given to me, but I chose to disregard it and pay off my mortgage.
Now, many years later I can tell you I am a free man. I am no longer servant to the lender. God is free to move in greater ways in our lives because of my lack of bondage to debt. And I am free to sow more into God's Kingdom.
Ask God to bring you into the Promised Land of debt-free living. You will find a peace that surpasses all understanding.