Mortgage amortization, by definition, refers to the process of paying off a debt over time through regular payments. A portion of each payment goes toward interest, while the remaining amount is applied to the principal balance" (Google). By making repayments in monthly payments or in the sum of total payments, people will reduce the amount they owe, which will help people to save their money for the long term, as author Glen Craig states "As the interest portion of your payment decreases, the principal portion increases and, with it, the remaining term of the loan shortens," as soon as people start paying off the principal, the payment period becomes shorter. Mortgage is a large debt, and it is almost as large as a person's house. Everyone wants to shorten the term by paying off as much of the loan as possible and as quickly as possible. Because cumulative interest on mortgage loans makes people's loan balances even larger. Owning a home without any loan will help the homeowner save money more easily because the homeowner will no longer have to make monthly payments. Short Term Mortgage Loan and Long Term Mortgage Loan will ultimately make a huge difference to the homeowner. The faster the balances a homeowner can pay off, the more money they can save. For example, as author Glen Craig mentioned in this article, “paying off your loan over 20 years instead of 30 will save you nearly $120,000 in payments (based on a $200,000 loan), freeing up money for investments or for anything else you want. want to do", $120,000 is a lot of money and the homeowner could invest in other projects. For example, buy another house in Pittsburgh or some other area with that $120,000 and r......half of paper......For people who have a 30 year mortgage, their amortization will be stuck in slow motion. So it's best to pay off your mortgage as soon as possible. Amortization basically means that your loan has been set up in such a way to take a certain amount of time to pay it off, as time goes by, some of the payments will go towards interest and some will go towards principal beginning of the year. Therefore, the faster people begin to repay the principal, the faster the debt owner can pay off the balance. Works cited CRAIG, GLEN. "What is mortgage amortization and how does it work?" Free from Broke. Np, nd Web. May 25, 2014."What is Mortgage Loan Amortization: Google Search." What is Mortgage Loan Amortization - Google Search. Np, nd Web. May 25 2014.