Owning a home free and clear of a mortgage may seem like a quaint idea from a former era. But being mortgage-free, especially by retirement, is a good goal to achieve as a way of obtaining financial freedom. Paying off what is often a six-figure loan is daunting at first, but can be done through one or all of a combination of methods. Pay Extra Toward The Principal Monthly mortgage payments are a combination of repaying principal (the amount borrowed) and interest. In the early years of the loan, most of the monthly payment goes toward...
