If you find yourself with a loan or mortgage in Washington state, this is for you! Of course the advice applies to most Americans really. :)
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And now on to the article...
Paying Off Your House Early...
Can you really pay off your home 6-8 years early?
How to:
Three ways to pay down that additional principal:
1) Pay an additional 1/12 of your mortgage each and everymonth. Designate on your coupon that the amount should go against the principal.
2) If you get a tax refund or bonus each year, add the additional payment to your mortgage, informing the bank that the additional money goes to paying down the principal.
3) If you get paid biweekly, take half of your mortgage payment from each paycheck and put it into a savings account. At the beginning of the month, write outyour mortgage check from that same account. At least twice per year you'll you will be including the equivalent of an extra half-payment. Be certain to note on the mortgage coupon that the additional money is to pay down the principal.
That's it for today, but I hope that the article was enlightening. If you would like to know more on how this could benefit your particular situation, please consider contacting me through the website www.dexterwellington.com. I give FREE consultations with no strings attached. Thanks and have a great day.