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Tips, financial advice to pay our mortgage off as early as possible.?
Posted on October 9th, 2011 No comments
Question by Jennifer: Tips, financial advice to pay our mortgage off as early as possible.?
I am looking for tips on how to pay our mortgage off as quickly as possible. I am debt free other than a mortgage, no credit cards, vehicles or personal loans. My husband and I want to get that mortgage downwardly quickly… any advice.
Best answer:
Answer by PITBULL
Make one extra payment per year. On a typical 30 year fixed bond that should cut the payoff time down to about 22 years give or take. If you have even more money to save, because that’s what your really asking, then open a Roth IRA and max it out. The value of compounding interest over time, is of course, invaluable.
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