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Should You Make Extra Mortgage Payments Now?
A detailed look at paying extra toward a mortgage each year. Benefits include potential savings of about 27 724 over a 30 year loan on a 250 000 mortgage at 4 percent and shortening payoff by about four years. Weigh risks such as tying up cash for retirement or emergencies and consider prioritizing high interest debt and college savings.
MENTIONED IN THIS ARTICLE
Suzanne Martindale
Consumer Union
David Mullins
Richlands
Virginia