Why You Should Pay Off Your Mortgage Early

You should pay off your mortgage as fast as possible. Now I already know what you might be thinking, shouldn’t I pay towards my retirement first before considering my mortgage.

Pay off your mortgage fast

While homeownership does fall into the asset column because of appreciating value and equity, what many fail to recognize is that a mortgage is a liability until paid full.

Why You Should Pay Off Your Mortgage Quicker

There are some simple ways to pay off a mortgage quicker then you might expect. However, what is more, important is the impact of being mortgage free.

Find Your Magic Number

After staying on a budget, paying down debts, and creating some positive cash flow, see how much extra each month you could put towards your principal amount.

Make Bi-weekly Payments

Splitting your mortgage in half and paying bi-weekly ends up resulting in one extra mortgage payment each year.

Results Matter

At the end of the day, paying off your mortgage does one thing – it pays off your most expensive budget item and frees up money.

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