Prepayment Privileges: The Underused Lever That Can Pay Off Your Mortgage Years Faster

Most people sign their mortgage, set up their payments, and don't think about it again until their term is up. They settle in for the long haul, chipping away at the balance over 20 or 30 years.

But some people want out faster.

That's where prepayment privileges come in. Used the right way, they can shave years off your mortgage and save you tens of thousands in interest.

Let me walk you through what they actually are, how they work, and how to use them strategically.