Pay Extra

• If you can force yourself to pay a little bit extra on each mortgage payment, you can cut years off of the time that it takes you to pay your mortgage. By simply making one extra mortgage payment each year, you could cut seven years off of a 30-year mortgage.
  
  

Refinance

• If you are having a hard time making your payment, you may consider refinancing your mortgage. By refinancing when interest rates are low, you can often get a mortgage payment that is much lower than what you are used to.
  
  

Tax Deduction

• Even though you may not like the idea of mortgage debt, it can be helpful during tax time. The amount of interest that you pay on your mortgage is tax deductible. If you itemize your deductions, you can usually deduct almost the entire amount of your mortgage payment during the first part of your mortgage.