Here are a few things to consider:
1) What are your interest rates on the debt?
2) What is your expected investment return?
3) If you use your income to accelerate your mortgage payment, how will you pay your monthly bills if you lose your job (or become disabled, or whatever)?
Pro debt reduction:
- more financial flexibility because I plug a leak in my cash flow
Perhaps, but it doesn' t help you build cashflow or a liquid cushion to cover emergencies. Remember, you won' t have plugged the leak for ten years.
- more financial stability because the bank cannot take my house if every things turns against me
Maybe in ten years, but for the near future, you will be MORE likely to lose your house. 1) You will not have assets to cover an extended loss of income, and 2) your additional equity protects the bank in case of foreclosure, but does little to protect you.
- more room for taking on good debt because my personal debt load is smaller
OK, but why trade one debt for another unless you' re getting a better rate? If your total indebtedness remains the same, than you should be focused on creating as much cash-generating asset wealth as possible.
- debt free in about 10 years vs about 25 years now, leaving 15 more years to invest a larger amount
Think about time value of the investment. $50K today invested wilol be worth far more than double that amount in ten years. Do the math;simulate what happens with steady investment over the next ten years, then steop investing for 15. Now do the opposite. You' ll find the the results will favor investing NOW.