Tips to Pay Down Your Mortgage – and Fast!
Posted by Rachel Pinder on
Tips to Pay Down Your Mortgage – and Fast! Mortgages can come in handy when you’re desperate for funds to get hold of that dream property, but the overwhelming payment period and debt can turn loans into a nightmare. These tips can quicken the payment process and help you clear your conscience and “death pledge”, so you can go back to those sweet dreams.
- Refinance, refinance, refinance! Rather than taking out a30 year loan, try asking your financial institution for a 15 or20 year mortgage instead.Theseshorter term loans are amortized quicker and add your payments to principal reduction. If you don’t want or are unable to change the time frame for your mortgage payments, try refinancing with a lower interest rate during the same period. This…
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