How to succeed with money in divorce — paying off your home mortgage in ½ the time

I don’t know about you, but I’m not a fan of paying my mortgage.

Don’t get me wrong, I like my home; I just don’t like paying for it. Well, I’m fine with paying the principal, but not the interest, really.

Unfortunately, if you have a conventional thirty-year loan, a full half of the price you pay for your house is interest. That’s right, you pay just as much in interest as you do in principal. So, a $250,000 home actually costs $500,000 or more by they time you pay it off.

Thankfully, there is a way to pay off your mortgage in approximately ½ the time. And the best part is it doesn’t cost extra money and it’s simple.

Here’s what you do: pay your monthly mortgage payment, then pay next month’s principal payment early.

For example, if your mortgage is $1500 per month, the principal may account for $400 of that payment (the rest is interest, taxes, mortgage insurance, etc.). If this is the case, you would pay $1500 for the monthly payment, then pay $400 for next month’s mortgage.

All you’re doing is paying next month’s principal a few weeks early.

The beauty of this system is the $400 is paid interest free. And, again, you’re not paying more money; you’re just paying part of your mortgage early.

Analyses demonstrate that this method cuts approximately fifteen years off a conventional thirty-year mortgage.

So, if you’re like me and you want to save money and not pay monstrous interest payments on your home, paying next month’s mortgage a few weeks early is a pretty enticing option.

P.S.: Another way you could got about paying off a home in fifteen years is to refinance your current loan to a fifteen-year loan. Interest rates on these loans are lower than on a conventional thirty-year loan, although standard monthly payments are (obviously) a bit higher.

P.P.S.: Hat tip to Tony Robbins and his book Money: Mastering the Game, pages 253-255, for this tip.

P.P.P.S: For more tips on how to succeed with money in divorce, click here, and here.

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Lei was something special. She was very understanding of our situation and her advice and listening ear made our decision and path forward clear. Thank you!

Response from the owner: Adam, you're welcome, and thank you.

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I just got off the phone with Kent and feel very confident in him and the help he has already provided in my case. He listened to and addressed my concerns with kindness and understanding and left me feeling like I'm not just another case, that he really is here to help me.

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Andrew did a great on my case. Communication was consistent, to the point and he kept me well informed. I also had the pleasure working with Clay. Top notch firm, very confident, and I would highly recommend them if you want to win. Thanks again team ~D

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Lei the office manager helped tremendously with all hiccups that we ran into and was very responsive and knowledgeable! She is a Rockstar and makes Brown Family Law worthy of 5 stars

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Sierra was so helpful right from the moment she answered our call. She gave all her support and resources and made sure to ask if we needed anything else before moving forward. Thank you so much!

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Andrew Barlow

I would hands down suggest Brown Family Law. Nathaniel helped me with my divorce, and he was very knowlegeable and knows his stuff. He helped me file a motion, get somethings changed in the original decree, helped me understand the terms they use, helped me understand how child support is calculated along is all the financial aspects associated with divorce case. He also is very responsive to phone calls and emails which was very helpful whenever I had small questions. Thank you Nathaniel!

Response from the owner: Andrew, thank you for your kind words.

Ryan Burns

I can’t say enough good things about Brown Family Law, but more specifically, my lawyer David Handy and his paralegal Dani. They are kind and honest and always available to me when I’ve needed them! This is such an exhausting time and they alleviated all of my stress by taking control. I could trust the process knowing I was in great hands!!! The entire law firm works as a team to take care of you! I can’t recommend them enough! Thank you!!!

Response from the owner: Ryan, so glad David and Dani served you so well and alleviated your stress.

Benjamin Ballard

They handled my case with the highest degree of professionalism and integrity and made every effort to be efficient and transparent with me throughout the whole process. I was told that they were the best as far as family law is concerned and I believe that praise was fully justified.

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Jonathan Porter

Amber McFee is always professional and great to work with. Being opposing counsel by nature is adversarial, but Amber is professional in approach while effectively advocating for her clients. She will treat you right!

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Devin R

Overall from start to finish the best experience to have dealing with a time that is difficult.Andrew Christensen is very professional and out going to make this situation the best it could be and worked hard to make sure the divorce was fair for me.Over all, this firm really cares and treats you as a family or friend and just not a client, down to Marco Brown taking time to see how I was doing and offer to help in any way possible during my divorce while I was there for my first initial meeting.I would highly recommend anyone that has to go through a divorce to really reach out to the Brown Family Law firm and see for your self the experience I was able to receive from a top notch law firm.

Response from the owner: Devin, thank you for the kind words. Andrew appreciated the opportunity to help you with your situation.

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How to succeed with money in divorce — paying off your home mortgage in ½ the time

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