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Paying off your Mortgage Early
Posted under Uncategorized by adminPaying your mortgage off early may be easier than you think. If you can pay an additional twelvth of your payment each month you can pay a thirty year mortgage off in less than twenty years. So it works like this. For example, if your payment is $1200 a month, you will write one check for the $1200 and another check for $100. On the $100 check write “apply to principle” in the memo. By doing this every month, you will be making an extra payment each year. You will also be paying interest on $100 less dollars every month. Even if you can not come up with the $100 per month, anything extra will help.
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