Own Your Home Sooner

There are several ways to pay off a mortgage sooner than scheduled to become the actual home owner. One is simply paying more toward the principle each month. Another is to make an extra payment per month or quarter.

Our local news reported on another way to pay down the principle. They suggest using the debt as the checking account instead of a standard checking account. They concluded there are 3 things that must be in order for it to work:
  • You have to get control of your finances. It only works if you have more money coming in than going out.
  • You need to carefully track what you're spending your money on and when those payments are due.
  • You have to qualify for a home equity line of credit.