Securing a home loan brings joy, but paying off a mortgage can be daunting. To pay off your mortgage faster, consider making extra payments, adopting a biweekly payment schedule, or refinancing to a shorter term. Increasing your income through side gigs or utilizing unexpected financial windfalls for lump-sum payments can also help. Prioritizing mortgage payments over other debts is crucial due to the size and interest of a mortgage. By implementing these strategies, you can work towards financial freedom and potentially buy a second home.
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