Your home mortgage is probably your single largest monthly expenditure.
Most people look at that payment as a fact of life -- you need a place
to live, after all. Have you ever considered, however, paying off your
home loan? Most home mortgage plans allow for prepayment, and there are
many good reasons to do so.
President Obama has recently shown how distressed homeowners have been
taking advantage of the administration's refinance programs but that
more needs to be done. He has announced figures that demonstrate how, in
many troubled housing markets, struggling homeowners are successfully
pursuing government-backed refinance programs.