 TITLE: How to Pay Off Your Mortgage Early CONTENT: Request a Mortgage Loan Modification\n------------------------------------\nRather than replacing your mortgage with another one, loan modifications do exactly what the name suggests: modify your existing mortgage loan. Typically, you'll hear about mortgage modifications in relation to financial hardship: The homeowner gets behind on payments and negotiates a change to the loan length or interest rates so they can get back on track and avoid potential foreclosure. If you can prove you're in a genuine bind regarding your mortgage payments, you can discuss this option with your lender.\nThe big picture is that a mortgage modification could help you to pay off your loan earlier than you would if you stuck with your original terms, should they become unaffordable. If it helps you avoid foreclosure, it's worth considering even if the end result is not reducing your payoff time.\nWhen your financial situation improves, a modification may allow you to begin putting more toward your payments to help achieve an earlier payoff date. A modification could damage your credit, however, so consider this option carefully. Rather than a primary strategy for early payoff, it could be best used when you're experiencing difficult times but plan to get back on track—and even get ahead on your payments—down the road. END