I know it is easier said than done, but if you can just make one extra payment per year on your mortgage you will save incredible amounts of money in interest and knock several years off of your loan in the process.  But, how do you get the money to make the extra payment?

Many of today's lenders will let you enroll into an automatic bi-weekly withdraw program where they withdraw every two weeks half of your mortgage payment.  For those of you who get paid bi-weekly you already know that that equals two extra payments each year or in this case two more half mortgage payments totalling one whole mortgage payment.

Another suggestion that I also make to most of my clients (at least the ones who are not self employed and pay quarterly taxes and ALWAYS owe at the end of the year like me) that they take half of the tax money that they get back each year and apply it right back to the principle of their mortgage.  I know it takes discipline, but if done on a consistent yearly basis, you could save a ton of interest and knock as many as 10+ years off of your mortgage.If your looking to buy or sell your home in the Albany NY area contact Kathleen Whaley at 428-9965 e-mail kwhaley@nycap.rr.com or visit albanyny-homes.com for all your real estate needs