By Lambeth Hochwald
If you're a homeowner, making an extra mortgage payment is like a fantastic financial gift to yourself. (And so much better to invest in your home rather than in a furnishing for it, right?)
"Your goal is thirteen payments in 12 months," Sande Taylor says. "This is a tax benefit since you'll receive an additional deduction from the mortgage interest paid. This will also help you to pay down your mortgage balance at a faster pace," she says.