Most of us have a thirty year mortgage.

How would you like to wrap up that loan early?

All it takes is a little bit of your attention and a few simple actions on your part.

Here is the problem. By the time that term of 30 yrs is up, the amount you will pay is more than double the original loan amount.

That’s right I mean a $200,000 loan will require over $400,000 to be paid back in thirty years.

Are you mad yet?

It may be time to look at methods to pay off your mortgage early.

Below are four simple ways to accomplish this task.

Become Debt Free Method 1:

Refi That Loan. If the rate is less refinance the loan. You may even be able to lock in a shorter term.

For example, many homeowners find that they can shorten to a fifteen or twenty year term and enjoy an interest rate that is not as high as a thirty year loan would be.

Also, because the rate is lower the monthly payment is usually not that much more per month.

Become Debt Free Method 2:

Write an additional check to be applied to the principle each month when you make your regular payment.

Don’t worry if it is small. Attack that principle as many months as you possibly can.

Become Debt Free Method 3: Arrange to have a Bi-Weekly Payment Plan set up. Here you will simply pay half the amount every two weeks.

Most banks can help you set this system up. If yours can’t find a bank that can.

What happens by making a half payment every 2 weeks is that in 52 weeks you will actually make one full extra mortgage payment, which will be applied directly to offset your principle balance.

An additional mortgage payment every year really affects your loan amount and helps you pay it off much sooner.

Become Debt Free Method 4:

Use A Software Program that manages a second line of credit or home equity line to systematically reduce the original loan amount.

This is not new. There are a few companies that marry these 2 tools.

Many mortgage holders are converting to this system in America. It has been utilized in Australia for many many years.

All four methods above can be effective helping you to quicker pay off your mortgage and all other debt. I personally recommend the fourth method.

What if you could get rid of your mortgage in 1o years instead of 30 years and not even have to change your spending habits?

Many 30 year loans are being reduced to twenty or even ten years and $100,000 and more are being saved for the homeowners!

I believe this is a key financial strategy of our century.

It is so important that I added it as a chapter in my best selling book 3 Secrets of Millionaires.

We no longer have to make the banks rich, by paying thousands and thousands in interest over 30 years. use it for your IRA, instead.

Please do your homework. This one can make you rich.

Want to find out more about how to pay off your mortgage early. Pick up Mike Koller’s best-selling book for just $9.97, instant download at: secrets of millionaires ,3 simple strategies to retire rich.