In the old days, when a mortgage was paid off, it was happily burned. Those days seem to be long gone. Very few people will stay in their home for the length of time required to pay of a 30-year mortgage. And even if you can pay it off early, it might not be best for you.

There is a sense of security in owning your own home. With every year that passes, my husband and I say how many years left until we own this place. By making extra payments on your mortgage, you save thousands of dollars in interest. Paying one extra payment a year on a $200,000 mortgage can save you more than $65,000!

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