Pay Off Mortgages

    How to Cut Your Mortgage by Ten Years

    How to Cut Your Mortgage by Ten Years

    Buying a house is one of the largest purchases you will make in life and your first focus will probably be on getting the best deal possible. Once you own the house, however, you ...

    How to Pay Off a 30 Year Mortgage in 10 Years

    How to Pay Off a 30 Year Mortgage in 10 Years

    If one of your long-term financial goals is to eliminate mortgage debt before you retire, paying off a 30-year mortgage in just 10 years is a possibility if you plan for it well ...

    How do I Pay Off a Mortgage in Less Than 30 Years?

    How do I Pay Off a Mortgage in Less Than 30 Years?

    While owning your own home can be very rewarding, the thought of 30 years of mortgage payments is daunting to say the least. If you have extra cash now, you might want to put it ...

    How to Pay Off a Mortgage in Ten Years

    How to Pay Off a Mortgage in Ten Years

    For years, many aggressive investors have advised maintaining mortgage debt and dedicating your extra cash to investments that have a potentially higher return than merely saving ...

    More Pay Off Mortgages Picks

    How to Pay the Mortgage Off Faster

    If you're like most people, the mortgage is the biggest bill you have, and it seems like you'll never pay it in full. The mortgage payment doesn't have to take the ...

    How to Calculate an Early Mortgage Pay Off

    If you have monthly mortgage amortizations, you'll greatly benefit from paying off your mortgage ahead of time. The escalating costs of living, weakening and slackening ...

    How to Pay a Mortgage Off Early

    After realizing the dream of owning their own home, many people shift focus to getting rid of their mortgage as quickly as possible. Surely this becomes a consideration for most ...

    How do I Pay Off a 30 Year Mortgage Early?

    Even though the terms on your mortgage say 30 years, that doesn't always mean you have to make payments for 360 straight months. You can take steps to pay off your 30-year ...

    Should You Pay Off Your Mortgage or Invest the Money?

    When you're in your 20s or early 30s, paying on a mortgage loan for the next 30 years can seem almost as bad as a lengthy prison term. One way to "shorten your ...

    How to Use a Life Insurance Cash Balance to Pay Off a Mortgage

    If you're ever trapped in a room full of insurance agents, ask them innocently whether you should buy term or permanent insurance. You can make a clean getaway while they're ...

    The Seller's Rights in a Land Contract Mortgage

    A land contract is an agreement between the seller and the buyer for the purchase of real estate. A land contract involves financing through the seller, instead of financing ...

    What Is the Purpose of a Second Mortgage?

    You can use a second mortgage to finance any legal activity, although many people use these loans to fund home repairs and maintenance. If you have an existing mortgage, you may ...

    What Is Taxable After I Sold the House and Paid Off the Mortgage?

    When you sell your house, Uncle Sam may be entitled to some of the money. What you use the proceeds for, such as paying off your current mortgage, doesn't matter to the Internal ...

    Can I Refinance My Primary & Secondary Loans at One Time?

    If you tapped your home equity to borrow money for a new car or to remodel your kitchen, you now have two monthly mortgage payments to contend with. If interest rates drop, you ...

    Does It Make Sense to Not Pay Off a Mortgage Due to Tax Deductions?

    Choosing not to pay off your mortgage due to tax deductions makes little sense on its own merits, but when you consider other options to invest your money, it might make more ...

    How to Pay Off a Mortgage Before the Transfer of a Deed to a Beneficiary

    When it comes to transferring real property, nothing is more important than clear title. An encumbered title can slow the transfer — and even result in the denial of — ...

    Can a House With a Mortgage Be Sold With Owner Financing?

    Seller financing offers many benefits for both the buyer and the seller. In many cases, a buyer can purchase a home without a stringent qualification process, and the seller may ...

    Can You Refinance if You're Newly Married?

    Deciding whether to refinance a mortgage shortly after a marriage depends on your goals. If it's simply to get your spouse on the title, there are easier ways. But if you have a ...

    Tax Questions for Paying off Your Mortgage

    Paying off your mortgage provides peace of mind, but requires careful analysis. This type of payoff may not be your best financial choice, depending on how you generate the cash ...

    What Is a Mortgage Lien?

    A mortgage lien is a a form of conditional ownership of your property claimed by your home loan provider. Since your lender has a claim on your home, you need to keep up with your ...

    Does a Real Estate Deed Have to Be Filed and Recorded?

    You've closed the deal on your new house and part of that action meant meeting with your escrow officer, or your attorney in some states, to sign the deed. Deeds show the ...

    Can You Back Out of a Refinance Before Everything Is Settled?

    When you refinance your home, you will find the application and processing to be very similar to the initial mortgage process. If you crunch the numbers and decide you need to ...

    What Kind of Deed for a Paid-Off Mortgage?

    When you purchase property, you are granted title to the property, and a deed is issued and recorded by your county's recorder of deeds. Until you pay off your mortgage, your ...

    What Is Included in a Mortgage Contract?

    Before you buy a home with a mortgage, it is crucial that you understand the terms of your mortgage contract. A mortgage contract is the loan document between you and your ...

    How to Pay a Mortgage When You're Laid Off

    If you are a homeowner who has been laid off from your job, one of your first orders of business is figuring out how to pay your mortgage. The consequences of not paying your ...

    A Checklist for Getting More Money Back on Your Taxes

    If you're one of those people who files their tax returns in January, you're probably expecting a refund. For many taxpayers, a tax refund feels like a windfall, and they treat it ...

    What Is a Straight Refinance?

    A home mortgage isn't like most other kinds of debt. The amounts of money involved are so large, and the loan lasts for so long, that a seemingly small adjustment in the terms of ...

    Disadvantages to Selling a House With Owner Financing

    If you're anxious to sell your home -- and especially if deals have fallen through because buyers can't get a traditional loan -- owner financing can be enticing. Instead of ...

    Can You Sell Your Property While in Mortgage?

    Selling your property while in mortgage is a fairly common thing. Being in mortgage simply means you still owe money to your lender and have not yet satisfied your home loan. ...

    Advantages & Disadvantages of Financing Your Buyers When Selling Your House

    At a time when banks are making borrowers jump through hoops to obtain mortgages and houses are sitting on the market with no offers, it’s tempting to consider owner ...

    Explaining the 1099-A

    If you get a copy of Form 1099-A in the mail, it's usually not a good thing; the only question is how bad it ultimately is. You get one of these forms when someone you owed money ...

    What Are the Advantages of Strategic Default Vs. Foreclosure for a Second Home?

    A strategic default is a calculated decision to stop paying your mortgage, even though you can afford it. This usually isn't an alternative to foreclosure, as your lender won't ...

    Uses of a Bond to Pay off a Mortgage

    As a young couple with a mortgage on your home or business, it’s always a good idea to know of every option available to help pay it off. If you have a government or ...

    If I lost My Home to Foreclosure, Will I Owe Taxes on the Fair Market Value?

    Federal tax law says that if your creditors forgive your debt, that's the same as earning extra income. Up until 2007, that included any part of your mortgage debt your lender ...

    What Are the Requirements for Loan Co-signers?

    Couples who need a co-signer on a loan are going to need someone who is willing to let a lender peer into his personal finances. A lender requires borrowers to get a co-signer ...

    The Advantages of Paying Off Mortgage Debt Before Retirement

    Most homeowners purchase their homes with a mortgage from a lending institution, and a surprising number still have mortgages when they retire. CNBC reports that as of 2007, the ...

    Paying Your House Off Versus Carrying a Mortgage

    Your home is your biggest investment -- and your mortgage is probably your biggest bill. As you fork over hundreds or thousands of dollars a month to your lender, you may wonder ...

    How to Decorate and Resell Furniture

    Stop and think before you throw away old furniture; there's a good chance you can make a few dollars by tidying it up, decorating it and selling it. This could even become a ...

    Can Owing Back Taxes Affect a Refinance?

    Not paying the taxman whether at the local or federal level can cause you problems if you try to refinance the mortgage on your house. Like other bad debts, delinquent taxes can ...

    How Should a Home Seller Pay for Renovations?

    Sometimes your home just isn't selling. Maybe the kitchen's old or the bathroom isn't cutting edge. Maybe the other homes in your neighborhood are all newer and cooler. Maybe if ...

    Help for People Unable to Pay for Their Prescriptions

    Pharmaceutical companies might spend hundreds of millions of dollars over a 15-year period just to bring a single new prescription drug to market, according to Johns Hopkins ...

    How to Cancel a Contract for Services

    When you make an agreement with someone to pay for services performed by the other party, this agreement would be a “contract for services.” The services specified in ...

    What Documents Should You Keep After Paying Off Your Mortgage?

    Once a homeowner has paid off his mortgage, there are certain documents that should be put away for safe keeping. At the same time, keeping every piece of paperwork that crosses ...

    Do I Pay Off My Mortgage or Roll Over My Cashed-Out Pension?

    If you cash out your pension after leaving a job, it's usually in your best interests to roll it into another qualified retirement plan. However, in a few limited circumstances, ...

    Definition of Mortgage Curtailment

    When you take out a mortgage on a house, your bank is lending you money to buy your property. In exchange, you agree to pay off the entire loan with interest according to a set ...

    Does Paying Off a Mortgage Early Help Your Credit Score?

    Coming up with the cash needed to buy a home outright can be a major obstacle for many home buyers. A mortgage can be a great way to finance a home purchase over an extended ...

    Debt-to-Equity Ratio in Real Estate

    Debt-to-equity ratios can determine whether you can afford the house you want, or whether you can refinance the investment property you already own. It's a financial term, but ...

    Mortgage Penalties for Paying Off a Loan Early

    The faster you pay off your mortgage, the less interest you pay. Because lenders like to make money off the mortgage loan, many mortgage contracts include a prepayment penalty. ...

    Can a Person Pay Off Their Primary Mortgage Before They Pay Off Their Secondary Mortgage?

    Sometimes it makes more sense to pay off your primary mortgage first. Just be aware that if you make that choice, your second mortgage will, for all intents and purposes, become ...

    What to Do to Refinance a Real Property

    Once you've taken out a mortgage loan, you are locked into the rates and payment plans decided by your lender. However, over the course of the repayment term, interest rates might ...

    How to Claim a Refinance on Income Taxes

    You can't claim your entire refi loan as a tax deduction, period. If you itemize deductions on Schedule A, you can write off the interest on your new mortgage, just as you could ...

    Who Is Responsible for a Mortgage in a Marriage?

    Sharing marital responsibilities is not always cut and dried. Before taking out that mortgage, meeting with a real estate attorney first will help more than a marriage counselor ...

    Paying Off My Mortgage Vs. Investing in My 401(k)

    There's no universal rule to tell you whether your 401(k) is a better bet than paying extra on the mortgage. The advantages of one option or the other vary with circumstance -- ...

    What Are the Dangers of a Balloon Mortgage?

    A balloon mortgage is a short-term mortgage that typically results in much lower monthly payments. Borrowers, however, must make a large "balloon" payment at the end of ...

    What Bill Can I Expect to Pay After Paying Off My Mortgage?

    You've paid off your mortgage loan. It's a time for celebration. But it's not time to put away your checkbook. You'll still face regular bills associated with your house. You just ...

    What Is a "Due on Sale" Clause in a Mortgage?

    Mortgage contracts include detailed, and sometimes, difficult-to-understand terms that are intended to provide borrowers and lenders with certain rights and responsibilities. Some ...

    The Pros & Cons of Mortgages

    If you want to buy a home, in most cases, you will have to get mortgage financing. Home loans provide some important financial opportunities for people who otherwise couldn't own ...

    Is It a Good Idea to Pay Off Your Mortgage?

    The ability to pay off your mortgage is the quintessential American dream. But when a mortgage is entirely eliminated, many homeowners lose out on advantages like tax savings and ...

    The Best Ways to Pay Off a Mortgage

    You might be tempted to pay off your mortgage if you have a high interest rate, you are close to retirement or you simply don't want the debt. The choice to pay off a mortgage ...

    How to Transfer a Deed to a Sister After the Estate Pays Off a Mortgage

    Settling an estate after the death of a family member can be a long and arduous process., and sometimes the will stipulates a distribution of assets that is different than the ...

    Does It Make Sense to Pay Off a Mortgage Early?

    It's only natural to want to get out of debt. And when you consider that a mortgage can represent hundreds of thousands of dollars worth of debt hanging over your head for ...

    How to Pay Off a Mortgage Balance When Selling Your Home

    A real estate transaction can be an exciting time for both the buyer and seller. The buyer gets a home that they can call their own, and the seller might make some money on the ...

    What Is the Quickest Way to Pay Off a Mortgage?

    Making the switch from renting to owning your own place can give your finances a boost. You’re no longer paying someone else’s mortgage with your rent payments, and ...

    How Long Will It Take to Pay Off a Mortgage?

    When you take out your mortgage, 30 years might seem like a long time away. Depending on how you treat your mortgage, you could pay it off in less time or, if you are like many ...

    Can a Mortgage Lien Stop You From Purchasing a Home?

    A mortgage lien won't stop you from purchasing a home, but it can dictate the price and the process. In a standard purchase, the seller simply transfers the necessary portion of ...

    Do I Get the Deed After I Pay Off My Mortgage?

    The day you make your final mortgage payment might seem like light-years away, but it will eventually happen. Once the loan is paid in full you'll own the property outright, ...

    What Is a Charge-Off of a Mortgage?

    Financial chaos can strike without warning. One moment you're vacationing in Fiji and the next you're left holding a foreclosure notice. If you can't catch up on your house ...

    Does Mortgage Insurance Pay Off the Mortgage If One of the Owners Dies?

    If you own a house, it is likely to represent the largest investment you have ever made, and it might be your largest asset. But your house is more than just a financial entry on ...

    Paying off the Mortgage Vs. Investing Pretax Dollars

    If you're wondering what to do to make your discretionary income work for you, paying off the mortgage on the nest and building wealth by investing pretax dollars are two options. ...

    How to Use a HELOC to Pay Off the Mortgage

    If the circumstances are right, you can use your home equity line of credit, or HELOC, to pay off your mortgage. For it to work, you need a good amount of availability on the line ...

    Can I Use a HELOC With a Balance to Pay Off a Mortgage?

    As long as your mortgage doesn't have a prepayment penalty, you can pay it off at any time, for any reason, with any source of funds that you have available to you. You can pay ...

    Rules on Upfront Fees for Mortgage Refinancing

    Homeowners choose to refinance their mortgage loans for a variety of reasons, but saving money on the interest rate is one of the most common. However, to save money you're going ...

    Refinancing Rental Properties

    If you own a rental property, you can use a refinance loan to lower the current interest rate, alter the repayment term or get some money out with a cash-back refinance. ...

    Does Deleting Your Spouse from a Mortgage Contract Affect Ownership?

    When you spend weeks or months struggling to get approved for a mortgage, it's easy to think that the mortgage is the document that determines home ownership. But your mortgage ...

    Definition of "Primary Beneficiary"

    Certain assets, such as your life insurance policy, 401(k)s and individual retirement accounts, allow you to name a beneficiary so that you can direct how the money gets ...

    How Do I Pile Compost?

    Many gardeners simply pile the refuse from their garden in one spot on their property. Twelve to 18 months later, they are finally able to dig a small amount of compost from the ...

    Can I Take My Spouse Off the Mortgage if She Is a Cosigner?

    Underwriters stipulate certain income and debt ratios that must be met prior to giving mortgage approvals. In some cases this means that, if you do not have a cosigner, you may ...

    Is a Charged-Off Mortgage Still a Lien?

    A mortgage charge-off is a term that lenders use merely to categorize a debt. For a mortgage to be "charged off," it generally needs to be deemed a "bad debt" ...

    What Is a Mortgage BPS?

    When you enter the world of home loan financing, the lingo can get overwhelming. However, demystifying this mortgage jargon is relatively easy, and knowing loan terms can help ...

    Can You Use Capital Gains From Real Estate to Pay Off a Second Mortgage?

    Once you've collected the capital gains from the sale of your real estate, you can use them for whatever purpose you wish. The Internal Revenue Service doesn't limit how you spend ...

    Does a Refinance Cash-Out Affect Property Tax?

    In a cash-out refinance, you replace your current home loan with a new one and get a wad of cash to stick in your pocket as part of the deal. A cash-out refinance will change the ...

    Straightline Vs. Mortgage Style Amortization

    Amortization is the process of reducing a debt over time, most often with a fixed time schedule of payments. A straightline amortization schedule reduces the debt with equal ...

    What Is a Mortgage Held in Trust?

    A person sets up a trust to transfer assets intended for beneficiaries after the person dies. Trusts make it easier on heirs by avoiding the time-consuming and sometimes costly ...

    Can a Car Be Repossessed if the Buyer Dies?

    When someone dies, the family has many important issues to manage. Unfortunately, debts are eventually among those issues. The lender of a car loan can repossess a vehicle if ...

    Rules for a Refinance From an Estate Owned Property

    Since a home is often the largest investment an individual or couple ever makes, real estate can become a substantial part of an estate. If you inherit real estate -- whether it's ...

    What Is a Prorated Mortgage on a Pay-Off Statement?

    When you’re selling a home, money from the buyer is transferred into an escrow or settlement account. This money goes to pay fees and closing costs, including the existing ...

    Definition of a Mortgage Aggregator

    A mortgage aggregator buys home mortgages from banks and other loan originators, packages them as marketable securities, and obtains a rating on each bundle that describes its ...

    Does PMI Pay Off My Mortgage if I Die?

    PMI stands for private mortgage insurance. When you get a conventional home loan and put down than less than 20 percent, you normally have to pay for this coverage. However, PMI ...