Many homeowners looking for a "pay off mortgage fast" program may only be familiar with the biweekly payment system. Although the biweekly system can cut some years of your mortgage term and save you some money, it is very limited. On a 30 year mortgage, the maximum amount of years you will knock off your mortgage is 8 to 10.
There is a much better way to pay off a mortgage fast without having to increase your income or live on rice and beans. It is a very ingenious system called mortgage cycling, and it can enable you to pay off your mortgage in 5-10 years. It is a way to turn the tables on the mortgage bankers to your great advantage. You see, mortgage loans are very heavily slanted in the bank's favor. Mortgage loans are front-loaded. Most people don't live in the same home for 30 years. Maybe in the mid-1900s they did, but now this is a rarity. After 15 years of payments on a 30 year mortgage, you will still owe about 90% of the principal. We need to build equity much quicker in these modern times, especially in a period of stagnant or negative price appreciation.
It is not natural that so much interest should be paid in the first half of the loan term. The system was set up during the Great Depression by the government in order to encourage banks to loan money to potential home buyers. It worked, but at the same time created a monster that exists to this day.
Mortgage cycling is a way to take the money you already have and make and structure your accounts and bill payments so as to take chunks off of your mortgage principal early in the loan term, or wherever you happen to be right now with your mortgage. It is completely legal and ethical, and many homeowners are using this tool as the best "pay off mortgage fast" program ever to be created.