Mortgages Homeowners have been conditioned to accept taking 30 or more years to pay off their mortgage. By doing so, they often pay 2-4 times the amount originally borrowed. This page will help you gain a clearer understanding of the mortgage process, and possibly provide some strategies to pay down that mortgage debt a little more quickly.
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The Schwab Mortgage Center has answers to your questions on mortgages, home equity, refinancing, and more. When you take out a loan, you agree to pay back the amount borrowed plus interest. But you've probably never realized just how much interest can be. Andrew Pryor Bi-weekly mortgage payment programs have grown in popularity over the past few years as a way to reduce the total interest paid on a mortgage loan. We'd like to make extra principal payments on our home mortgage each month, but we can't do that and invest for retirement.