Cut Your Mortgage by 8 Years With This Trick

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I wanted to share an important tip with you. I guarantee that it will literally save you tens of thousands of dollars if you own a home or you're thinking about buying a home.

It's a secret your banker won't tell, and quite frankly, doesn't want you to know. The secret is how you can pay off a 30-year mortgage in 22 years.

It's really simple. All you need to do is make one extra mortgage payment a year. Sure, you could save money with interest rates as low as they are by getting a better rate with a 15-year mortgage, but the payment jumps up substantially. Payments on 15-year mortgages are a lot harder on families with two kids, car payments, and student loans, for example.

So the trick is to go with a 30-year option, and make one extra payment each year. That will cut your mortgage down by eight years! Think about what this would do for your cash flow!

You might be thinking you don't know if you can save up an extra payment every year. There's another trick to make that aspect easier, too. You can do this by making bi-weekly mortgage payments. Since most people get paid every two weeks, you can have half of your mortgage payment taken out of each check - most banks will set this up for you for free. If you get paid every two weeks, that means you get paid 26 times a year. This slowly builds an extra month's worth of payments into total payments over the course of a year. You'll still pay off your mortgage eight years early.

If you have any questions on how this works, please feel free to call me. I'd be happy to answer any questions you have.