In the last few months of discussion about mortgage fraud, derelict lenders and a worldwide banking crisis of unrealized magnitude, we haven't focused much on the good news about mortgages and home ownership.

The good news is that a third of home owners have no mortgage at all. Their homes are paid for. Probably some of these are old-timers who never heard of using a "money merge account, "advanced line of credit, "home equity line of credit" or any other sophisticated modern pay off your home years sooner technique. They just made their payments month-after-month, year-after-year until one glorious day they received their "paid in full" notices.

Of the remaining two-thirds who are still making payments on their homes, 90% of of them are not in trouble on their mortgages. Like their predecessors in the paid-for, own-it-free-and-clear realm, they make their payments month after month, year after year.

I'm in my first home, myself–the first one I bought to live in (after having an investment property). In my first two years on this loan, I knocked $70,000 off the mortgage without actually making extra payments, such as doubling my monthly payment, paying biweekly, etc.

Are you on my mailing list? If not, you might want to join in for information from someone who's been there and done that:

Thousands of others are doing what I've done and continue to do. We're using the paid-for portion of our house to assist in paying off the unpaid for portion. It's fairly simple. The only qualifications I would suggest is that…

1. you must be able to live within your means. If you over spend - spend more than you bring home - this technique will not work for you.
2. you should be able to balance your check book, or keep some kind of record that lets you know how much money you have where - whether you check your balances online very day, use post-it notes, or actually keep a check book. No sophisticated software, such as United First Financial's Money Merge Account (MMA) is necessary.

I'll talk more about this tomorrow. For now, I've promised the family a sledding playdate in the snow.