Comments on: The Plan Of Attack – How I Plan To Pay Off My Mortgage Early

By: Oscar At Real Life Money Management

Oscar At Real Life Money Management — Sun, 28 Mar 2010 03:29:42 +0000

Every little bit helps. It is amazing how much just paying a little at a time can help pay your mortgage faster. It is sickening to look at those mortgage statements and see so much going towards interest.

By: Jane

Jane — Thu, 25 Mar 2010 17:00:22 +0000

NCN,

One number to watch that will probably make you happy is how soon the amount of money from your regular payment going toward principal is going to be larger than what you are paying to interest. I don’t make “very large” extra payments, just round up to the nearest $100 each month but in less than a year at 4.85% on a 15-y mortgage, more of my regular monthly payment now goes to pay principal. My next “happy” moment will be when I am paying $50 more a month to principal etc.

By: Bad Credit Saint

Bad Credit Saint — Sat, 20 Mar 2010 20:04:37 +0000

I particularly like the micro-payments part. This is exactly what I did to pay down my car loans (I don’t own a house yet). Sometimes in the month you get payments that you don’t actually need. This is the best time to put that money to something that is useful and should be a great idea to implement for people who don’t have a regular pay check.

Thanks for the recommendation.

By: Ellen Allard

Ellen Allard — Mon, 15 Mar 2010 14:17:08 +0000

Is there an advantage to making your monthly mortgage payment on a certain day of the month. I think ours is due on the 16th of each mth, I usually pay it by the 9th even though I have the money and could pay it on the 1st of the month. Would we pay down our mortgage that much quicker if I paid it two weeks before it was due each month?

By: Single Guy Money

Single Guy Money — Mon, 15 Mar 2010 02:31:18 +0000

Good Luck with getting the mortgage knocked out! I’m sure you will do it given your track record and how much you hate debt.