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85: How To Pay Off Your Mortgage Faster
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I'll be honest, this topic has been on my mind since I bought my home a year ago. I'm simply one of those people that aren;t comfortable owning a certain amount of money. I figured I'm not the only one that has these thoughts so lets talk about how to pay off your mortgage faster.. In this episode, we talk about:
- 2 situations where it might not be the best idea to accelerate paying down a mortgage
- Four ways to pay down a mortgage faster than scheduled
- Pitfalls to avoid when paying down a mortgage faster than scheduled
- Allocating the extra payment to principal
- Asking about any prepayment penalties
- Looking into recasting
Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs to hear these conversations. Please join our community online at www.therichimmigrant.com or on Instagram at 'Therichimmigrant.'
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