You’re getting by on less. Your mortgage is likely your biggestmonthly expense in retirement. Getting rid of this payment means a much lower overhead cost each month. You can ditch the interest. There’s no two ways about it — you’re likely paying tens of thousands of dollars in inte...
Wondering if you can afford your monthly mortgage payment? Learn how to set a budget to determine how much home you can afford with this article from Better Money Habits.
This doesn't need to be a formal arrangement, as mortgage overpayments can be made as and when you can afford to do so. This means that just because you overpay one month, you won't be expected to the next, or ever again. Paying a lump sum If you receive a lump sum of cash,...
Thetea partymovement of 2009 protested against reckless government spending. The Tennessee Republican Party issued a bumper sticker in February 2009: “Honk if you’re paying my mortgage.” Several pundits claimed that the bumper sticker should have read “Honk if I’m paying your mortgage”—wher...
Then there isliquidity risk. Paying off the mortgage would tie up a boat load of otherwise liquid capital I might need for unforeseen circumstances; say a new car if my existing one gives up the ghost. I’d be forced to sell other assets to generate cash, potentially at a loss. ...
When I was 27 years old, I paid off the mortgage on my Atlanta condo just two years after I bought it and became 100% debt-free. If you want to pay off your mortgage or any other debt faster, I’m here to help! In this article, I’ll share the six steps to paying off a mor...
Most self-employed taxpayers are required to make quarterly estimated tax payments. There are four payment deadlines throughout the year, and you're responsible for figuring out how much you owe in estimated taxes. If you're self-employed, here's everyth
Making a list of pros and cons is a good way to help you make any big decision so let’s take a look at the pros and cons of paying off your mortgage. Pros Paying off your mortgage greatly improves yourmonthly cash flow. The median monthly mortgage payment for U.S. homeowners is $...
Paying your mortgage with a credit card has some restrictions, even with Plastiq. Theterms and conditionsprohibit you from using a Visa or American Express card to pay your mortgage through Plastiq.23Considering that other payment processors have come and gone in the past, Plastiq may not be ar...
How Paying off a Home Affects Your Finances Mortgage payments are made up of two components: interest on the loan and a principal amount that pays down the total outstanding balance. A $1,500 monthly payment might pay $500 toward interest. The other $1,000 will reduce the principal loan...