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Accelerating paying off mortgage

Two (somewhat independent) questions:
1. How do you tell ESPlanner you want to accelerate paying off the mortgage? The mortgage may be 15 years but I want to pay it off in 7 and lower my living standard temporarily
2. How do you tell ESPlanner you want to take cash and apply it to the principle on the mortgage? We're looking at buying a new home and about a year later selling the current home. I want the net gain to go towards the new mortgage principle. Doing it in reverse order (sell then buy) results in the wrong taxes and fees.


1. You can't, not directly.

If you want to see the effect of paying the mortgage off early, you need to create a new profile with a 7 year mortgage instead of a 15 year mortgage.

2. You can't. Not directly.

You have to model it as selling the new house, selling the existing house and buying a 3rd house with a larger down payment.


Dick Munroe


Hi, On question 2, there is a simpler way, namely enter an amount of regular assets that is smaller by $X, where X is the amount you intend to immediately use to pay down your mortgage and then change your mortgage so that its outstanding value is $X lower. best, Larry