It feels never ending. Month after month, you make those mortgage payments, knowing you won't own your house for decades. But there are ways to pay it off faster and save thousands on interest. We have helpful hints for homeowners.
"I never felt in a house like I felt in this house," one woman said.
It's a feeling a lot of home-buyers get when they find "the one." Here are ways to make it yours faster and save a ton on interest. Make bi-weekly instead of monthly payments. Paying half of your bill every two weeks instead of a full payment once a month means every year you're making an extra payment. It could help you pay off a 30 year mortgage in as little as 22 years.
If you're interested in making bi-weekly payments be careful because some banks may charge for that service. To get around that experts say you can add a twelfth of your mortgage payment to each monthly payment.
Also look at refinancing. Taking advantage of the current low rates can save you a bundle in the long run.
Finally, round up. If you're paying $1,150 a month write a check for $1,200 instead and make sure that goes towards paying off the principal.