Become mortgage-free a whole lot faster with the help of these five easy tips:
1. Opt For Accelerated Payments
Depending on the terms and conditions outlined in your mortgage contract, you may be able to make accelerated payments. This option allows you to make weekly or biweekly payments, amounting to roughly the same total you’d expect monthly. However, by paying more than once a month, you’ll be able to save on interest charges and make approximately one extra mortgage payment per year.
2. Increase Your Payments
Of course, increasing how much you pay, even if it’s only by a small amount, is a surefire way to become mortgage-free faster. Here again, you’ll have to refer to your mortgage contract as you may only be able to boost your…
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