Mortgage Payoff Tips, Strategies & Guides
Quick Answer: The EarlyMortgagePayoff blog covers proven strategies, tax considerations, real success stories, and the latest tools for homeowners who want to pay off their mortgage years ahead of schedule.
Should You Pay Off an Adjustable-Rate Mortgage Early?
Paying extra toward an ARM's principal during the fixed-rate period can shrink your balance before the first reset, but…
What Happens to Your Escrow Refund After Mortgage Payoff
When you pay off your mortgage, your servicer closes your escrow account and sends back whatever balance is left…
House Rich, Cash Poor: When Mortgage Payoff Backfires
House rich, cash poor happens when extra mortgage payments drain your reachable savings faster than your home equity…
How Do You Get a Lien Release After Paying Off Your Mortgage?
When you make your final mortgage payment, your lender still has to file a document called a satisfaction of mortgage…
Mortgage Payoff vs. College Savings: Which Comes First?
Fund the goal with the deadline first. College bills arrive on a fixed date and home equity cannot pay them, so a 529…
Why Didn't My Extra Payment Go to Principal?
Because servicers do not apply extra money to principal by default. They usually park it in a suspense account as…
How to Remove PMI Early and Save Over $100,000 on Your Mortgage
You can request PMI cancellation once your mortgage balance falls to 80% of your home's original value, and your lender…
Should You Use Your Tax Refund to Pay Down Your Mortgage?
Discover how applying your annual tax refund to your mortgage principal can save tens of thousands in interest and…
Mortgage Recast vs. Refinance: Which Option Saves You More Money?
Recasting lowers your monthly payment after a lump-sum payment, while refinancing changes your rate and term. Here's…