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Cut Years Off Your Mortgage

To really cut years off your mortgage, make an extra payment a year but do it this way. Say your mortgage payment is 1200/month. Divide that by 12 ($100) and add that above and beyond that monthly payment. It will cut thousands in the life of your mortgage!

By Marie

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March 16, 20140 found this helpful

You can also save interest and years by making your payments every two weeks rather than once a month. You pay only half the amount of course. This squeezes in an extra payment every year, and also saves a lot of interest every month. My son and daughter in law did this.

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