When Stockton resident Kevin Byrd refinanced his mortgage a couple of years ago, he figured he’d need the full 30 years to pay off more than $300,000 in debt.
Now he expects to get it done in just 10 years. Or less.
Byrd, 50, is employing a system called an accelerated mortgage plan that essentially uses a line of credit to pay down his home loan in record time.
It’s not for everyone. But for those with plenty of financial discipline — and as much as $3,500 to shell out for a special computer program — this might be something to consider.