Comments on: Pay Off My Mortage Faster? – Here Is My Plan. http://www.askmrcreditcard.com/creditcardblog/pay-off-my-mortage-faster-here-is-my-plan/ Latest Credit Card News, Reviews and Information Sat, 07 Nov 2009 23:38:59 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: kate http://www.askmrcreditcard.com/creditcardblog/pay-off-my-mortage-faster-here-is-my-plan/comment-page-1/#comment-113579 kate Sun, 26 Jul 2009 08:07:24 +0000 http://askmrcreditcard.com/creditcardblog/pay-off-my-mortage-faster-here-is-my-plan/#comment-113579 i have a 11 precent interest rate, i still owe 151000.00 i want to pay the house office with in five years. what wil be my monthly payments i have a 11 precent interest rate, i still owe 151000.00 i want to pay the house office with in five years. what wil be my monthly payments

]]> By: Personal Money Tips http://www.askmrcreditcard.com/creditcardblog/pay-off-my-mortage-faster-here-is-my-plan/comment-page-1/#comment-67451 Personal Money Tips Fri, 25 Apr 2008 16:00:55 +0000 http://askmrcreditcard.com/creditcardblog/pay-off-my-mortage-faster-here-is-my-plan/#comment-67451 I had 25 years left on my mortgage and changed to weekly payments and dropped 4.5 years off the mortgage. One tip to really accelerate your mortgage is to give your payments a raise when you get a raise. I calculated that if I had a 3% raise every year and increased my weekly payments by 3% when I received the raise, I'd cut my mortgage term down to 13 years. Lump sum payments do work, but small increases in your regular payments will have a massive impact. I had 25 years left on my mortgage and changed to weekly payments and dropped 4.5 years off the mortgage.

One tip to really accelerate your mortgage is to give your payments a raise when you get a raise. I calculated that if I had a 3% raise every year and increased my weekly payments by 3% when I received the raise, I’d cut my mortgage term down to 13 years.

Lump sum payments do work, but small increases in your regular payments will have a massive impact.

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