Paying off your mortgage early can be such a relief! It can save you a ton in interest over the years. Some people make extra payments or switch to bi-weekly payments instead of monthly ones.
It’s per the terms of the note. The request to pay down principal has to come in writing. Set up auto pay and request to pay towards principal, it takes 30 days to set up auto pay.
Paying off your mortgage IF you have a low rate is a bad financial decision. Example I could pay off my mortgage but it is at 2.75%. I have a separate account with a balance less than my mortgage that pays for my mortgage and property taxes…..off dividends.
I slowly paid down my house but stopped and now owe 35k. Most of my payments are now going into principle and my mortgage company takes care of the taxes and insurance etc. that I don’t want to deal with. Yes, I am lazy.
Paying off your mortgage early can be such a relief! It can save you a ton in interest over the years. Some people make extra payments or switch to bi-weekly payments instead of monthly ones.
It’s per the terms of the note. The request to pay down principal has to come in writing. Set up auto pay and request to pay towards principal, it takes 30 days to set up auto pay.
Paying off your mortgage IF you have a low rate is a bad financial decision. Example I could pay off my mortgage but it is at 2.75%. I have a separate account with a balance less than my mortgage that pays for my mortgage and property taxes…..off dividends.
That’s smart! Unfortunately we are at a 6.5% interest rate. Waiting for the rates to come down so we can refi
Does this also apply for new vehicles
I slowly paid down my house but stopped and now owe 35k. Most of my payments are now going into principle and my mortgage company takes care of the taxes and insurance etc. that I don’t want to deal with. Yes, I am lazy.
I wish I could have listened to you 50 years ago. 😂
Me too!