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Live Mortgage Free - Don't Let Mortgage Rates Get You Down

By: Andy Guides

It's completely wrong to think you would have to start staying in a tepee or a converted schools bus to be able to live mortgage free or save on mortgage loans. Lamentably, this is a sad attempt to escape mortgage.

But it's not as difficult as everyone thinks it is to pay off one's mortgage in good time.

If you are among those who now wonder how you can do this and still afford your present cost of living, have no fear; it's indeed possible. Because I've been there and done that I can confidently say it's not difficult to achieve.

The mortgage loans for your home should be repaid and that should be your top priority, before anything else. It goes beyond just bringing in many thousands of dollars monthly that one can achieve this difficult task. On the other hand, if you, as a homeowner, plans carefully, does some adjustment in your budget, and are determined, you can easily pay off your mortgage debt.

Are you aware that you can actually pay off your mortgage and actually own that home within 10 years? You think there's some kind of catch involved?

Of course not, all you need is to be willing to sacrifice and you can pay off your mortgage easily.

Do you want to know the exact steps to take to achieve this?

Firstly, don't rush all out each year you receive your tax refunds to buy a car, boat or such crazy purchases. What you should do instead is to put that money towards repaying your mortgage loans. It amazes people to learn that they can pay off tens of thousands of dollars off their mortgage in years by a monthly commitment of extra $50 to $100 dollars.

Instead of wasting money and time taking a fishing trip on the other side of the United States, it's wiser for you to take one that's quite close to your home. Also, I don't see why you should continue to waste money traveling to Hawaii each year to celebrate your anniversary when you can celebrate it closer home and save the extras.

It will astonish ladies if they are told the money they spend each month on spa treatments and other such expenses; such could be saved if they learnt to do their spa treatments, manicures and pedicures themselves. If you desire to save hundreds of dollars as a guy, then cut down on your golfing from once a week to monthly.

If you are among those that think hundreds of dollars extra payments don't matter, consider this -- it can cut off 6 years from the time it would take to be mortgage debt free. You don't have to wait for big money before paying it in; the little extra you pay each time can help increase your savings. Almost everyone will like to take advantage of this.

It doesn't matter if you are receiving very low wages; you can save an extra $10 to $25 each and every month by cutting down on other expenses. Consider talking to your lender so that you can increase the payment on your mortgage; that's if you can indeed afford to pay the increase. You can simply revert to paying what you were paying before, if you can't keep up with this increase.

At the time for tax refund, save the extra payment in your account and consider it a good way of using the money. If you have a craze for entertainment, vacations and other such extra spending, open a separate account for these purposes. No, you don't have to start living like a monk in a monastery because you want to pay off your mortgage early; but it's a good thing to cut down on expenses so that you can be debt free in good time. I'm not saying you should stop your entertainment completely; just cut down on it a little. Instead of going out weekly, cut it down to monthly.

Those that live moderately can come up with the extra money each time for their mortgage loans. Do the math with a calculator right away. I still haven't seen anyone that won't prefer to save thousands or even hundreds of thousands of dollars during the life of a mortgage.

I don't agree that one must sell his/her life to own a home. If you consistently follow your budget of living on less and putting aside a certain amount each month for repaying the mortgage, you will be surprised that you will pay it all within 5 to 10 years.

Article Source: http://www.articlesinsight.com

Andy Guides is a freelance writer for numerous newsworthy websites in a mixture of niche markets. One of his trendy sites is Live Mortgage Free (www.LiveMortgageFree.com) where you can read about Mortgage Rates At the site you can get Eddie Lamb's free special report entitled "Discover The 12 Fundamental Steps That Will Put You On The Road To Living A Mortgage Free Life In 180 Days Or Less!.

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