How to Move Towards Mortgage Freedom

According to a new study released by Scotiabank, 37% of mortgage holders in Canada are less than 10 years away from mortgage freedom. Even better news, 68% of mortgage holders in Canada have already taken steps to pay down their mortgage faster. The most popular methods to paying down mortgages quicker are: Increasing the frequency of regular payments (39%) Increasing regular payment amounts (25%) Making lump sum payments (24%) Whether the reasoning be more disposable income, the goal of being debt-free or saving for retirement, 80% of those surveyed say being mortgage-free is important to them. Over 50% of the mortgage holders surveyed also stated…