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.
Assumable Mortgages Explained: What They Mean for You
An assumable mortgage lets a home buyer take over your existing loan, including its interest rate and remaining…
Homeowners Insurance After You Pay Off Your Mortgage
No law requires homeowners insurance after you pay off your mortgage — that requirement always came from your lender…
Should You Use a Bonus, Raise, or Inheritance to Pay Off Your Mortgage?
A bonus, raise, or inheritance can cut years off your mortgage, but only after your emergency fund and high-interest…
Should You Pay Off Your HELOC or First Mortgage First?
Pay off the HELOC first if its rate is higher than your first mortgage rate, which it almost always is. HELOCs carry…
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…