Sunday, April 16, 2006

Mortgage free?

Quick question: Is being mortgage free a realistic goal?

I am sure you have heard the idea, pay an extra monthly payment once a year and you drop like 5 years off your mortgage. Go really wild and you can get it done in 15 years. Push really hard and it is 7 years. But is that realistic? I read an article that says the average credit card balance for those that have a balance is like 9 thousand. If we can’t even get a hold of our credit cards balances do we really have a hope of being mortgage free? Well mortgage free before we turn 90. So what do you think? Mortgage free a reality? Are you trying to get yours done before the stated term? If so how quick of a goal do you have?
For me the answers are: yes, yes, 6 years total.

That’s it for today. Keep an eye on your EveryDay Money.

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