is it a good idea to pay of my mortgage fast?

[Tom Hall]

My mortgage rate is very high  and I would like to pay some of it off, so that my monthly payments would go down a bit, I dont know if it is financial smart to do it or not? any advice on paying mortgage off or faster 

[Nathan Gesner]

Quote from @Tom Hall:

My mortgage rate is very high  and I would like to pay some of it off, so that my monthly payments would go down a bit, I dont know if it is financial smart to do it or not? any advice on paying mortgage off or faster 

With a standard mortgage, your monthly payment will remain the same for the life of the loan. Even if you only owe $26,000 on the loan, your payment will still be the same. Paying it down faster doesn't change your payment.

I recommend you speak with your lender so they can explain this to you. Then ask them what your options are to reduce payments in the future.