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Society and the banks teach out about mortgages at a young age. We hear the terms refinance and 2nd mortgages, but fail to learn some of the hidden ways to pay off that loan earlier. Today I am talking about how to pay off your mortgage fast! These ways are opposite to what you may have been taught – why? Who has taught us about banking in our lives? Maybe our parents or other family. Who do you think they were taught by? THE BANK. So the bank teaches you how to take out loans and pretends that they are “in it” to help you, but what you don’t realize is that they are really “in it” to make money. They are a business too – right?
So let’s break this down a little bit more. For this article, I am going to be using the free calculators on pigly.com. They offer a wide range of tools from savings, budgeting, retirement planning, mortgages, auto loans, personal loans, and so on, so their site should offer something relevant for just about everyone! I am going to be using their mortgage calculators for this blog post, but they have so many other great free calculators on their website!
How to Pay off your Mortgage FAST
Do not refinance!
When learning how to budget, you start looking for ways to lower your monthly payments. One of the ways that many people think of is to refinance your mortgage rate to a lower interest rate. But I want to warn you – DO NOT REFINANCE! Yes – I said it! Do NOT Refinance!!!!!! This is the opposite of what I wrote about in this post on the best ways to pay down your mortgage. Why? Because I started working wit… Read More
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