There's a reason so many seniors aim to be mortgage-free by the time retirement rolls around. That way, there's one less debt payment hanging over their heads. And also, if you enter retirement without a mortgage, your monthly bills will be lower on a whole, thereby allowing you to stretch your senior income further.

But unfortunately, the high cost of owning a home mortgage-free has the potential to upend your retirement finances. And the sooner you realize that, the sooner you can think about adjusting your homeownership plans for retirement.

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Source Fool.com