Accelerating Mortgage Payments Accelerating your mortgage payment is the quickest way to pay off your home faster. Most people have had the opposite approach to their homes, using them like an ATM. Flooding the market with cheap credit has driven up the price of homes which then has encouraged the same wealth effect that people saw with their stock portfolios with their homes. Needless to say the tables have turned and people begun to look to pay off their debt faster.

Accelerating your mortgage payment is easy. First pay off any seconds or home equity lines of credit first. The interest there is far higher. Then simply include additional payments toward principal. Simply including one additional payment a year will shave 5 years off a 30 year mortage.

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