Eliminate Mortgage Debt - Introduction

Note: For most people, their mortgage debt is both large and unavoidable, but it doesn't have to be like that. This is the first in a series of articles that will show you how to eliminate your mortgage as quickly as possible and save thousands in the process.

Let’s start with an overused statement. For most people their mortgage is probably the single biggest financial commitment that they will make during their life. Although for some people, the amount of money that they throw at their personal pension must come close, but that’s another issue!

But let’s not dress things up with innocent sounding words, such as ‘mortgage’ and ‘financial commitment’, just to make the situation more palatable. I like to call a spade a spade. A mortgage is a debt, just like any other. But it’s worse in two respects. First, it’s a big, fat debt, like a black rain cloud hanging over your head. Second, it will lead to you and your family being thrown out of your home if you don’t keep up with the repayments.

And it’s best never to forget that!

Unfortunately, the majority of people in this country will claim to ‘own their own home’. Most of them appear to have forgotten that their lender may own a much as 90%, 95% or even 100% of ‘their’ home.

But houses are very expensive these days, and the prices seem to continue rising. So, for most people a mortgage is the only way they will ever be able to purchase their own home. It’s unavoidable, a necessary evil, a lifelong millstone around their neck. Well, that’s the way the majority of ‘homeowners’ have been trained to think. But it needn’t be that way!

There are numerous things that can be done to save money on your mortgage debt. Some of them can even save you tens of thousands of pounds, dollars or whatever your local currency is! So without further ado, let the savings begin.

In order to make these tactics more accessible I have divided them into two main categories: Things that can be done before a mortgage begins, and steps that can be taken during the life of your mortgage.

Next: Save Money On Your Mortgage Before It Starts

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