Dear Dr. Don,
I have asked several people this question, and I hope you can give me an answer. I owe $70,000 on my mortgage. The interest rate is 5.75 percent fixed and it has 11 years remaining. I want to shorten the time of the years left because of my planned retirement in nine years.
If I pay $700 a month on my payment, how much do I need to pay toward the principal, and how often, to shorten the years (more…)
Posts Tagged ‘payment’
Extra payment trims years off mortgage
Saturday, April 4th, 2009Tags: Extra, mortgage, payment, trims, years
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