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Saving, Managing Debt, and Budgeting

Mortgages

Can adding just a few hundred dollars to my mortgage payment help to reduce my debt?

Yes. You can choose to add an additional sum to your normal monthly mortgage payment to pay down your loan principal. The effect can shave several years off your mortgage, and save you thousands of dollars in interest payments, depending on your loan size, your interest rate, and how many months you have remaining on your mortgage.



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