4 Ways to Pay Off Your Mortgage Quicker

Good advice however if one were to refi to a lower 30 yr. rate then take the difference between your old payment ie. $900.00 and your new payment ie. say $600 = $300 and apply it directly to the principle you can reduce a 30 yr. to an 18 yr. saving 100k on interst payments! Not bad. Another benefit is that you don't have to commit to higher payments of a 15 yr. mortgage and you pay off your loan in about the same amount of time and if your economic situation gets bad you can use the extra money from the refi $300 in this case and use it to pay bills and still save money on your interest rate. A kind of insurance policy if you will. I hope this strategy helps some people because as most people know the bankers sure are'nt out to help you! Quick example-I recently refied and played two lenders against each other . The first one tried to charge I mean gouge me around 6 thousand dollars to refi. The second one countered at around 33 hundred. We went back and forth in the end the first one dropped out and the second one came down to 26hundred saving me 34hundred $ ! So the truth is they will take you for everything they can and...well laugh all of the way to the bank. O sorry they are already their! No morals no scruples just greed . Good luck everyone except you bankers.

Gary Rivait of CA 3:35PM February 11, 2012