pay off my mortgage early

This has been on my mind for a while. I’ve made a few extra payments, but I’d like to pay it off early.

I have a few other items I’m trying to pay off first, but I’d love to also pay off my mortgage more than five years early.

10 months ago that I would be pulling this goal out of my give up pile and marking it as done but I am!
I was actually stood in a Hungarian Tesco when I got the phone call from him indoors telling me that we are now officially mortgage free. It just goes to show you never Know what is round the next corner.

Might sound like a lot, but I’ve had the house less than 3 years and I’m a working class girl doing it on my own with no support. I started off with a 25 year mortgage, made various overpayments and now by agreeing to pay an extra £250 a month, it is down to 12 years. That means it will be paid off by the time I am 38…can’t wait!

and I am NOT giving this goal up but merely moving it over for the time being. I want to have a list of goals that I want complete for 2007 and somehow I don’t see us totally clearing our mortgage in one year – I don’t play the lottery so highly unlikely. But this is more an ongoing goal – hey mortgages are huge no?

but at the moment I am feel really lucky that i have a lovely roof over our heads

i am truly grateful for that

this thing to do has been sitting here on my list for a while with no entries BUT now I have some things to say about it ;)
I’ve just applied for a proper out of the house full time job which pays real proper money :o and him indoors has just had his contract upped in all aspects ;)
So if I get an interview and possibly a job there will be some extra cash coming in so we can pool it and pay some extra off the old mortgage bringing the big pay off forward to a much earlier date :D

It really is worth it. Good luck everyone!

I applied to refinance my mortgage today for a 15 year loan. Not only will I pay off my home-equity-line-of-credit and credit card, but I will actually have more cash left over every month to put into savings and not have to use a credit card.

So, I’m going to count this goal DONE!

I work for a major mortgage banker and we have a program that allows our clients to pay their mortgage every 2 weeks instead of every month. What does that mean? There are 52 weeks in a year, allowing you to make 26 payments which translate to 13 months rather than just 12; however, the best part of it is that the payment gets applied immediately, they don’t just take your payment and apply it at month’s end. Therefore you are saving on much more interest. For those who have first and seconds it’s a great time to consolidate the two and I can run the numbers to make sure it makes sense. I did this with my mortgage, you can with yours!

I guess budgeting is most important. Also, If you start paying additional money every month (e.g. $100 add to monthly payment towards Principal) will reduce a lot of payments & you dont feel the pain. I have started this strategy a month ago. I am reading MSN financial advices, blogs on finance topics, bankrates.com columns etc. You get lot of inputs that will help you achieve this goal!