Want to Pay off your Mortgage Faster?!
- Change your payments. Simply increasing your payment frequency to bi-weekly or weekly costs nothing and can save thousands of dollars over the life of your mortgage. If you can afford to pay a little extra, consider accelerated bi-weekly or weekly payments—these are equivalent to making one extra monthly payment per year which results in substantial savings. Or you can make a lump sum payment which can realize savings several times as great over the life of your mortgage. It’s not rocket science or reinvention of the wheel, but it works!
Next Blog posting, how to make your mortgage tax deductible!!