Question: I have been paying an extra $560 on my mortgage since July 2007. Recently I began paying an extra $1,000 each month. We owe $l55,000 on our house — our original loan was for $l86,000. Our house payment is $l,427. We have $200,000 in a 401(k) plan (maybe less now).
Question: I'd like to know more about mortgage payments. If I pay one or two extra payments each year how much faster can I payoff my house? I have a 30-year mortgage.
