Writer and blogger Kim Anderson and her husband, an engineer, paid off their home 27 years early.
They made extra payments to their mortgage's principal, and watched the amortization table closely.
Anderson and her husband paid close attention to their amortization table while planning their payoff, and says it became a large part of their strategy.
They also started to contribute more towards their mortgage payment each month, adding an extra $1,260 to their their $689 monthly payment, later increasing it to $2,515 per month.
By saving on the splurges and extra purchases, they were able to pay off their mortgage quicker.
Persons:
Kim Anderson, —, Anderson, doesn't, couldn't
Organizations:
Service, Andersons
Locations:
Atlanta, Canton , Georgia, North Carolina, Georgia