How to Pay Off a 30-Year Mortgage in 7 Years (Without Being Rich)

Comments · 883

• MI

  @MinorityMindset · 5 months ago (edited) · pinned

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• DR

  @DroolingFool · 5 months ago

  I paid off a 30 year morgage in 12-1/2 years. &nbsp;I &quot;sunk in&quot; &nbsp;all extra money thst came my way and paid a double payment for a long, long, long time. &nbsp;It was hard but was the 2nd best accomplishment for me. &nbsp;(The 1st was getting through Air Force Basic training when I was 20 years old. &nbsp;😅) &nbsp; Today - debt free let&apos;s me sleep much better at night. &nbsp;🎉

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• BR

  @brett4932 · 5 months ago (edited)

  The TLDR for this entire video is just pay extra towards principle throughout the year. If you can come up with extra money, put it towards your mortgage if you feel like it. But there’s no hack to make things go faster. It’s math. It’s just putting extra money towards the payments at an expedited rate that’s it.<br><br>The only hack is making more money. Or spending less money on other stuff.

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• RE

  @RealDonfromBroward · 5 months ago

  It&apos;s so crazy how many people don&apos;t know of mortgage recasting. &nbsp;These are the types of things that should be taught in schools so that you can help better your life as an adult. &nbsp;Instead, the banks leverage ignorance to their advantage.

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• DA

  @DavidWhite-eh3wu · 5 months ago

  This should be taught at every high-school!!!

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• LY

  @lynnboyett5540 · 5 months ago

  We paid off our twenty year mortgage in eleven years and nine months. That was a few months before the 2008 GFC. It was beautiful timing. We paid twenty dollars more each month for the first year and added twenty dollars a month each year afterward. So, $20,$40,$60 per month for the first three years, and so on. My logic was that if we were renting, we’d have paid more each year without owning anything.<br>Back then, the expenses were lower and so was the home but I would do something similar if I were to need it for current expenses.

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• SH

  @shannoncraig509 · 5 months ago

  Lowering expenses is an investment in freedom.

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• JI

  @jimrobinson4786 · 5 months ago

  I am getting free of my mortgage this month! When I received bonuses I put extra money to the principle and every month I paid 200 extra principle. &nbsp;I am paying a 20 year mortgage in 13 years.

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• HI

  @himanshupunetha007 · 5 months ago

  Paying house in 5 years is easy.<br>Drive a shit box , don&apos;t go holidays , eat cup noodles, tin fish and rice.

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• BE

  @benjaminw309 · 5 months ago

  Recasting will not help paying off the mortgage faster. &nbsp;The only part of the payment that is dropping is the principal - not the interest. &nbsp;The only reason to spend the money to recast is if you want to have a lower monthly payment and not pay off your house early.

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• JO

  @johnfortes2171 · 5 months ago

  Make &quot;principal only&quot;payments.

  83

• SA

  @saeedahmad7763 · 5 months ago

  OUTSTANDING VIDEO. All new buyers please pay attention to the video

  5