You can live mortgage free in less than 5 years if you just trim the fat and make some small cutbacks. You can determine your exact mortgage situation by using a mortgage calculator.

You may have been on bare minimum mortgage repayments up to now; you can always change that by starting to pay off more. Getting a lower rate may be easier than you think. In addition, just to be sure, check to make sure there is no early repayment penalty. It’s also important to know if there are any upper restrictions on your repayments.

Think about getting rid of your mortgage first - glossy cars and the good life will surely follow. It only takes a little self-control, a small amount of staying power, and a few additional dollars each month for you to be able to take control of your finances and become mortgage free.