Do you want to pay off your mortgage early? You might think that the only real option out there is for you to make extra payments every month.
But there is another option. It is one I am using to pay off my 30 year mortgage early by 13 years.
And I am not making any extra payments to my mortgage company.
How is this possible?
In this post, you will learn the trick I am using to pay off my mortgage early. And by using this trick, I am going to have thousands of dollars left over that I can do whatever I want with.
Here are the details so you too can start to pay off your mortgage early without paying extra money each month to your mortgage company.
How To Pay Off Your Mortgage Early Without Making Extra Payments
My Strategy To Pay Off My Mortgage Early
Here is how I am going about paying off my mortgage early without actually paying any extra money.
Instead of putting extra to my mortgage every month, I simply invest the money instead. The goal is in the future, I will use this built up pile of money to pay off my mortgage.
Here are the details for how this works.
#1. Pick Your Pay Off Date
The first step to this process is deciding when you want to pay off your mortgage. This shouldn’t be a random date, but should have some meaning to you.
For example, my wife and I want to retire at 55. So our mortgage pay off goal is when we turn 55 years old.
Do you want to retire early? Are you trying to get rid of your mortgage before your kids go to college? You have to decide what date makes the most sense and has meaning to you.