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Old 11-29-2008, 12:27 PM
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Default how to pay off a 30 yr mortgage in 10 yrs?

how to pay off a 30 yr mortgage in 10 yrs?
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Old 11-29-2008, 01:35 PM
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Don't spend your money. Save everything you make. Buy only things you need. Spend a little on "fun" (going out to eat, going out for drinks, getting some clothes here and there), but otherwise ONLY spend what you need to spend. You should be able to save a lot of money that way!
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Old 11-29-2008, 02:28 PM
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You need to add extra $ to your principal each month. A little bit goes a long way. Also if you can afford double payments you will be far ahead. Just make sure it it applied toward the principal.
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Old 11-29-2008, 02:44 PM
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When you send it your mortgage payment include extra principle.Right on your statement is a space for noting the extra. Quicker you pay down principle the less interest you pay. Just divide principle balance by 120 month and that is the amount extra.
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Old 11-29-2008, 04:43 PM
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if you triple your payments there is a possibility to get it done
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Old 11-29-2008, 06:20 PM
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Because of the interest which is unknown here you need to ask your loan people, bank, mortgage, mafia, whoever. How much you need to pay each month for how long (assume 120 months?)It varies so you have to check with them.Also do you have an early payoff penalty?It's a good idea because the average 30 yr will cost you approx double (or more) the actual original price.
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