Early Mortgage Payoff: My Story
Last week, I guest posted on Young & the Invested about my story on how I paid off my mortgage in eight years.
In this article, I provided actionable steps on how and why I paid off my mortgage early. My hope is to spread the awareness about the pros and cons of an early mortgage payoff.
Young & the Invested is a financial independence and entrepreneurship blog for millennials. It was featured on The New York Times, Bloomberg, NBC News, Business Insider, The Washington Post, among many other media outlets.
In fact, I stumbled upon this blog while reading an article on Market Watch about financial independence!
The following is an excerpt of my featured article.
This post may contain affiliate links, which means I may receive a commission, at no extra cost to you, if you make a purchase through a link. Please see my full disclosure for further information.
How to Pay Off a Mortgage in 8 Years (An Excerpt)
It was 2008 and the mortgage crisis was in full speed. In almost every street corner, I’d see a ‘for sale’ sign sitting callously on an unkempt lawn.
I remember the chill I felt every time I drove past a row of signposts signifying short-sales or foreclosures in the neighborhood.
I shivered as I tried to make sense of the housing situation. But I was too busy for that. I was close to graduating, and the only time I had left to spare was to look for a job.
For no job means no security. And without security, home ownership is only a far, distant dream…
To read the full story, head on over to youngandtheinvested.com.
Creating this blog has opened up so many opportunities for me to meet other bloggers online. Never in a million years could I imagine that in just a few short months, my little blog has reached thousands of people. Best of all, I’ve made incredible blogger friends!
To start your own blog with self-hosting option, check out Bluehost which offers free domain name for 1 year. This is the host that I use here on Mama Bear Finance.
Note to my subscribers: I’ve created an Amortization Loan Schedule to help you understand, plan and track your mortgage payments. This can be found under Resources –> Exclusive Resources in the Menu.
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Related: Mortgage Loan Amortization Schedule: How It Works
It’s a PIN for all
Thanks for this! Interesting read and a great achievement! I try to combo between paying off and investing in the stock market. It’s all about your comfort level. Paying off your debt, from a comfort perspective, can never be a bad thing if it makes you feel better! No losing sleep!
Thanks for the amortization loan schedule. Paying off my mortgage early is sure to save tons of interest.
My pleasure! I hope you’ll reach your goal soon.