Having a mortgage can be very stressful for some people but it does not have to be! Part of this comes from the planning that you make when deciding to take out a mortgage. It is a big decision and a massive financial commitment to be able to pay off that mortgage in a timely manner. However, there are definitely some ways that can help you improve your ability to remove mortgage debt at a quicker rate.
- The quicker you can pay off your mortgage and still remain comfortable, the better.
- Those who remove their mortgage payments report that it is a massive weight off their shoulders.
- As you get older, your window to enjoy life gets smaller so pay off your mortgage faster!
“An even easier strategy—and one I still use today on a few properties—is a bi-monthly pay schedule. I think this could work for almost anyone. This is simply where you send in half a mortgage payment (P+I) every two weeks.”