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.
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.
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.
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.