Tip of the Day: Reduce the Life of Your Mortgage

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Posted on : 07-06-2010 | By : georginesaves | In : Tip of the day

Did you know if you make a mortgage payment every 2 weeks instead of once a month you will make the equivalent to an EXTRA payment each year! According to fivecentnickel.com this will cut years off the life of your loan! Another way is to overpay your mortgage payment by a fixed amount each month. A 10% increase can save years and THOUSANDS of dollars in the long run!

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