Making extra payments can significantly shorten the time and interest on your mortgage. But there are several difficulties that go along with this method, and one can be a giant roadblock.

The first problem with this task is that you can only benefit in proportion to the amount of extra money you have each paycheck to contribute. And this problem has two aspects.

1. It takes sometimes what seems to be a hard reaching amount of discipline to allocate some of your money as "extra" income. And even then, the amount you set aside may not be significant enough to motivate you to keep chugging along. In that case a bi-weekly program is better.

2. You only get a one for one rate of return, rather than an exponential benefit. It is similar to the fact that you only reduce your mortgage according to the amount you contribute above normal, rather than using your money to work harder than simply making an extra payment. It is somewhat like using only one nut to fasten a tire onto a car.

The second problem with the way this program works is big, and it is also the same thing that contributes to its downfall. As mentioned above, it takes some discipline to set aside some of your income to use to bring your principle down, but the biggest problem is related to the amount of money you set aside. Sure, it keeps the tire on, but you are not getting the most out of your tire.

Anyone who owns their own business knows that one of the most important principles is that if you do not make established goals, you will never reach any goal. There is something in us that will keep us from reaching anything, if we do not first set it as one of our objectives.

In that case, if you are simply going to set aside whatever money seems to be extra at the time, you have failed to establish a concrete goal, and you will probably not persevere. Making extra payments along as a mortgage acceleration program has no built-in goals established.

You will need to resolve and persevere to establish and maintain your goals. But that can be like studying for a degree without the accountability and support of a University.

Do you want to learn the best way to escape paying interest? You can get my free ebook, How to Significantly Lower the Interest on All Your Loans, Including Your Mortgage, and That Without Refinancing.

To get the free ebook, click here: Lower Interest On All Loans.

Alfred Spengly currently works with a company that has been registered with the better business bureau since 2006 with zero complaints. It is a company that strives for its customer's satisfaction, helping individuals and families manage their own money by providing the tools they need to establish their own financial security.

Personally, Alfred has worked in the financial field for almost 15 years.