Barb Schlinker The Real Estate Voice

The Top Ways to Pay Off Your Mortgage Early and Hot New ListingsSegment 4Top 7 Ways to Pay Off Your Mortgage Early & Some Hot New Listings1) Barb, I’ve heard people say there is nothing more exciting than paying off your mortgage, what are the Top 7 Ways to Pay Off Your Mortgage Early Its interesting to note that:Thinking of Refinancing?  Consider:How long you plan to stay in the homeWhether or not it makes sense to add Years to the MortgageThe cost of RefinancingIF plan to stay, paying off your mortgage as fast as possible is the best way to go:Fact:  A typical 30-year mortgage takes 21 years just to pay down LESS THAN HALF of the principal of your loan!Fact: For a $435,000 30-year mortgage at 3.0%, paid monthly with no extra down total amount paid would be $660,231!There are several ways to prepay a mortgage:Make an extra mortgage payment every yearAdd extra dollars to every paymentApply a lump sum after an inheritance or other windfallSome combination of the aboveThe Banks GET THEIR INTEREST MONEY FIRS