Ways to Pay off a Mortgage Early

February 23, 2008 | In Loan, Mortgage |

 Mortgage Debt

Probably one of the biggest expenses we encounter during our lifetime is our home mortgage. Have you ever stopped to figure out just how much money it costs to own a home? The mortgage we obtained for our home was $115,000. Payments on this loan are approximately $1120 a month. Every month. For thirty years. A little simple math tells us that we will make a total of 360 payments on this mortgage. A little more math tells us that we will repay $403,200 by the time all is said and done. Continue reading Ways to Pay off a Mortgage Early…


 

Home improvement loan with a home equity line of credit

February 21, 2008 | In Loan, Mortgage |

 You can get a home improvement loan in the form of a home equity line of credit or a home equity loan. The difference between the two is simply that a home equity line of credit is similar to using a credit card and a home equity loan is just that a loan. Loan meaning that you have a certain amount of time to pay back the money borrowed to the financial institute. Continue reading Home improvement loan with a home equity line of credit…

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