Quote:
Originally Posted by MrBottomTooth
Weekly mortgage payments instead of monthly, increasing principal payments slightly or doing a lump sum once a year will go a long way to getting rid of that high interest you pay.
I've already knocked 9 years off my 25 year mortgage just by paying a little extra. Saves me tens of thousands of dollars in interest.
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I agree. I was only trying to make the point that when you pay $1,000 for a payment you can't be under the impression that all of it goes towards the principal.