submitted by Colleen Evanchik, Re/Max Royale
Tip for Buyers: When obtaining a mortgage, you have choices of 15-year all the way up to 40-year mortgages. The average is 30 years.
One way to pay down your mortgage (I did it myself) is to take the amortization statement, and when paying your monthly amount, pay the next two principal amounts, thereby reducing the 30 years to only 10 years!
And think of all the interest you will have saved! Cheers!