Comments on: Kick Your Mortgage in the Butt – Getting the Better of Your Repayments

By: MoneySmartGuides

MoneySmartGuides — Tue, 01 May 2012 00:46:33 +0000

This is the strategy I’ve employed with my mortgage. I also pay a little extra each month, and then even add more to the end of the year. But now that I am renting out my house, I’m only paying the normal monthly payment and saving my money.

By: Edward Antrobus

Edward Antrobus — Sat, 28 Apr 2012 00:13:58 +0000

A tip I read a few weeks ago: round the payments up. If the mortgage payment is $280 (ours!) then pay $300. The reasoning behind it is that you are probably already budgeting the $300 because that is easier to add in your head!

By: Shilpan

Shilpan — Fri, 27 Apr 2012 22:21:44 +0000

I use this strategy in commercial note payments, and it works.

By: Kristin

Kristin — Fri, 27 Apr 2012 20:57:01 +0000

Fantastic! I love reading posts like this every so often with direct and practical advice. Especially on topics I know very little about- mortgages! Who is the guest poster? Does he have a website, because I’d love to check some of his other stuff out!

(By the way, I haven’t commented before but I do really like your blog. I’ve just gotten into it and I only really read through those whose blogger personality I like. Great work :))

By: Shawanda @ You Have More Than You Think

Shawanda @ You Have More Than You Think — Fri, 27 Apr 2012 19:41:13 +0000

The average U.S. federal income tax refund in 2012 was about $2,800. If you don’t need the money to pay off any higher interest rate debt and you don’t need it for any other essentials, use your refund to pay down the principal on your mortgage.

By: Anthony Thompson

Anthony Thompson — Fri, 27 Apr 2012 19:15:00 +0000

Very nice! Making rapid repayments is a very effective payment method. Over the years, I’ve come across many people who have done this, and did very well in terms of their savings (as well as quickly eating away their mortgage payments).

By: Sean @ One Smart Dollar

Sean @ One Smart Dollar — Fri, 27 Apr 2012 17:03:26 +0000

Great article. This is one of the best ways to save a lot of money on a mortgage

By: Modest Money

Modest Money — Fri, 27 Apr 2012 15:52:18 +0000

This is where it’s important to make sure you don’t take on a mortgage that comes with an early payoff penalty. I’m not sure if it’s as common these days, but you used to usually get dinged with a hefty penalty just for paying off a mortgage early. The banks really do want to stretch out that mortgage as long as possible.

By: From Shopping to Saving

From Shopping to Saving — Fri, 27 Apr 2012 15:29:05 +0000

I was just about to write a post on this! It is very important to compare mortgage rates to make sure you can get the best deal possible.

By: Michelle

Michelle — Fri, 27 Apr 2012 14:16:33 +0000

Interesting! I didn’t know about the renewal thing, but that’s probably because we don’t have an ARM or anything crazy.

We recently refinanced for a shorter loan time with a smaller interest rate AND money back! Woot!