Pay Back Mortage or Not?

I would be interested in my fellow brownstoners opinion, particularly if you are renting out your brownstone. I own a 2 family in Park Slope which I have rented out for the past 20 years and I live elsewhere. I have a 210,000, 30 year mortage at 5.75%. There is about 20 years left on it. WOuld you suggest getting rid of the morgage (paying the principal down in lump sums over the next few years) or keeping it? What are the advantages and disadvantages? I appreciate your opinions.

By momolito |