Four Ways To Pay Off Your Mortgage Faster

Most of us have a thirty year mortgage.

If you answered yes, would you like to pay it off quicker?

Do you realize how simple it really is?

Why pay all of that interest to the mortgage company over the course of thirty long years?

If you borrow $100,000 at 6%, you will pay more than double that amount on your 360th payment.

Does that anger you?

It may be time to look at methods to pay off your mortgage early.

Here are 4 strategies on how to pay off your mortgage early.

Become Debt Free Method 1:

Refinance The Mortgage. Refinance to a rate that is lower or a term that is not as long.

By shortening the loan, often you can lock in a lower rate.

What if the shorter term, lower interest rate loan had a payment not much higher than the 30 year payment?

Become Debt Free Method 2:

Pay Extra Principal Each Month. That's right. Simply send in an extra check each month, requesting that it be applied to your principal.

Don't worry if it is small. Attack that principle as many months as you possibly can.

Become Debt Free Method 3: Set Up What Is Called A Bi-Weekly Mortgage. All you need to do is pay it every 2 weeks.

Check with your bank. If they can't do it, do a Google search. There are lots of banks who can do this for you.

Basically what you accomplish with this method is the payment of a full monthly amount at the end of the fifty two weeks. The bank subtracts this from your loan amount and it is harmless to your budget.

An additional mortgage payment every year really affects your loan amount and helps you pay it off much sooner.

Become Debt Free Method 4:

This is a unique marriage of computer technology and a second mortgage loan that attacks the 30 year loan.

There are several such systems on the market.

This is a strategy that lots of homeowners are starting to use in the US. Aussies and Europeans have been using this for years.

Explore all 4 of these methods. The bottom line is that you must attack your debt and make every attempt to pay off your mortgage early. I like method #4 best.

It is helping many homeowners pay off their mortgages in less than half the time and in one third the time in many cases.

Many 30 year loans are being reduced to twenty or even ten years and $100,000 and more are being saved for the homeowners!

This is the best way to pay off your mortgage we have ever seen, perhaps.

I had to include it as one of the 3 secrets in my book 3 secrets of millionaires.

We no longer have to make the banks rich, by paying thousands and thousands in interest over 30 years. use it for your IRA, instead.

Spend some time evaluating this one. It can make a HUGE difference in your financial lifetime.