If you have a 30-year mortgage, it may feel as though you’ll always be in debt. However, there are effective ways to slash the time it takes to pay off a house. Even better, many of these methods don’t require spending a lot of extra money.
Still, paying off a mortgage must be balanced with other financial needs. “I wouldn’t want to recommend someone pay off their house and not have an emergency fund,” says Dave Totah, a certified financial planner with Exencial Wealth Advisors in Frisco, Texas.