Paying Off Your Mortgage Faster

Paying Off Your Mortgage Faster

Paying off your mortgage is one of the biggest financial goals of most homeowners, and retiring debt-free can certainly give your golden years a greater sense of financial freedom and stability.  Whether you’re nearing retirement age or are just looking to reduce your largest debt load more quickly, here are some great tips for paying off your mortgage faster!

Principal Versus Interest

Essentially, to pay off your mortgage you have to reduce the principal owing on your property.  There are really two ways you can do this without dramatically reducing your monthly budget.

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