How to Pay Off Your 30 Year Mortgage In 20 Years

The trick to paying off your mortgage in about twenty years is to make one extra payment every year. There are several ways to accomplish this:

• Increase your payment by one twelfth. For Example, if your payment is $600 per month, increase your payment to $650 per month.
• Make one extra payment in February, the shortest month.
• Make one half payment every two weeks. This will result in twenty-six half payments a year which is exactly one extra payment. Make sure this is ok with your lender.