Mortgage Loan

six techniques to spend off your mortgage early





Fork out OFF YOUR House loan EARLY: I’m sharing the straightforward six-stage system that I adopted to spend off my $86,000 mortgage in just two several years. If you want to be a hundred% debt-no cost, abide by these techniques to spend off your standard mortgage a lot quicker. Mine was a fifteen-calendar year fixed-charge mortgage with a three.seventy five% curiosity charge. If I remaining out any information and you have queries, depart them in the opinions underneath. I will try to response. You can also discover additional about me on my weblog, MichaelSaves.com. Be sure to subscribe to my YouTube channel! I have additional movies coming before long.

Stage 1: Purchase a property you can find the money for 1:13
Stage 2: Get a fifteen-calendar year mortgage if you can 2:fifty
Stage three: Set a target payoff date three:fifty six
Stage 4: Automate added mortgage payments five:eleven
Stage five: Increase money and lower costs five:57
Stage six: Reward your accomplishment eight:25

Sources:

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Ways TO Reduce YOUR Expenditures:

MY Credit CARD Rewards Strategy:

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28 comments

  1. I paid of mind in 3weeks I burn it to the ground.

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  2. Vic has help me load money into my bank account and credit card and even boost my credit score…..contact him +1(657) 217 0584 ….vic is the best .

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  3. I came at this issue of becoming debt free from the other side. Instead of penny pinching and coupouns etc. i learning marketable skills that i use to generate extra income as a side hustle. I use the income from the asset to pay my liabilities down . When the liabilities/debt servicing is gone, i still have an cash producing asset and the mortgage-free property vs just a paid off property.

    Reply
  4. Im currently on a 30year mortgage since 2017..if i prepay by next year around 30k,the mortgage will be left 110k.. should i change it to a 5year fix mortgage?The monthly repayment will be only half of my take home pay though

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  5. Wow! So simple! All you need is a boat load of money. No problem!

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  6. Were you hit with any prepayment penalties? How do you avoid them?

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  7. Im sure youre doing this youtube video to be informative and all of your proceeds will be donated…

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  8. I would think step 1 is to get a well paying job. Then buy a house you can afford.

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  9. I like the reward tip! My husband and I are working on paying off our mortgage fast, and I think that will help motivate us. I can't wait to be mortgage free! We have a plan, and should be able to get there in 5 years or so, without much extra effort.

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  10. What a horrible video. 0 substance and took almost 10 minutes to say what anyone could have said in 2 sentences. One of those 'the path to failure is paved with good intentions' scenarios..

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  11. Dude your House was 80,000 that ain’t nothing. I’m happy for you but most of us have real mortgages in the 300,000 way different. Best info here is the 15 year mortgage

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  12. glad you shared the video, the best person to pay off credit debts is activesolutions07 @outlookcolm

    Reply
  13. My mortgage is mammoth 4200$, can you help me and advise how can I finish it off in 8 years?

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  14. In 2010 I bought a 10 acre farm house with a pond for 98k I put 7 grand down and paid it off 2 weeks ago. I also put a 1300 square foot addition and a 3 stall garage all PAID in FULL. Put your head down and work,and go home when u are off work and save. Now I can afford to go out .

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  15. CONGRATS! I also did a 15yr mortgage, cut the cable, but setting a goal is a bit of challenge for me… not sure why…

    In addition to this I try to keep 0 balance on my CC, make my own coffee/tea most of the days of the wk which I actually enjoy doing, have an automatic bimonthly transfer to my old orange now Citi acct and to my savings and pay extra on my principal..

    One advice my sister had told me to instead of paying xtra on ur principal, she told me to invest it and then once accrued enuf to pay off ur principal lump sum.. I'm not biz savvy enuf to do this but I do understand where shes coming from.. 🤷🏻‍♀️… all in all I plan on paying off in 5yrs… wish me luck!!

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  16. Paying the first half in the first year and the second half in the second year.

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  17. You're smoking a lot of crack cocaine!

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  18. If you can't buy it cash, you cannot afford it. Save and buy your house, car and assets with cash. You will live more comfortable that way.

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  19. I agree with everything but I would do 30 years mortgage and make extra payment. That why I miss interest only loan, you can pay off your home super fast

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  20. Spyhacker667@gamailcom helped me paid off my mortgage loans.

    Reply
  21. If you can't afford to pay anything extra ask your bank if they have a biweekly payment plan it will still take the same time but you will save a significant amount on interest

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  22. Hello micheal I'm currently trying to pay off my mortgage of 46000.00 I've been paying extra toward my principle my goal was by the end of this year I'm hoping and praying keeping the faith.

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  23. Please use a white board next time

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  24. To be clear, divide by twelve the monthly payment which includes my property taxes and home insurance or just divide the actual loan amount I pay per month? I’m thinking the the latter, is that correct?

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  25. I paid off my mortgage by not living in my house and eating at soup kitchens……orrrrrrr you're rich as hell

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  26. Great advice. I'm trying to pay off my mortgage quicker. I wrote down your six steps and will use them and see if I can get my mortgage paid off in 5 years. I only owe $42,057.27 If you have anymore advice I would love to hear it. Thanks!!!

    Reply
  27. lmfao…. $86k in 2 years, That's the cost of daycare from birth to Kindergaten.

    Reply
  28. Butter pay them HOA fees or they will sell your condo

    Reply

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