I once met a woman at a networking event who wanted me to tell my clients about a program to pay off their mortgages. As we talked I realized the cost to join the program was $3600! I refused to be involved and she was not pleased.
Homeowners can pay off their mortgages without a $3600 payment to a third party! That money could have been paid toward their principal. Where would the $3600 come from? their savings? or a charge to a credit card? Either way, it was not in the best interests of my clients for me to encourage them to do something that enriched another, put them further in debt and decreased their net worth with the pretext paying off their mortgage. It made no sense to me.
The easiest way to pay off your mortgage is to make payments on time – (you avoid late fees this way; every $50 fee counts ). Make extra payments toward the principal on a monthly basis. If you can’t do that, at least make one extra mortgage payment per year. Alternatively, you could add extra payments in comfortable manageable amounts when you can. Whatever you can do to pay down the principal is a plus for you and will help you pay off the mortgage earlier.
The route you don’t need to take is the one that involves paying anyone to set up a system for you to pay off the mortgage. Always question the math. You already have debt in the form of the mortgage; any more borrowing only increases your debt. Your aim is to reduce your debt.
You can alway reach me at 615 482 2257 ; call me if you have questions.