If you do try prepaying your mortgage as a strategy, be sure to do it in a way that your mortgage company understands. Some prefer you to write a separate check for the extra. Others do better if you always make the same size extra payment. To make sure your bank is crediting your extra payments accurately, you should print out an amortization table from the internet that shows how each extra payment affects your principal and interest, then check it whenever you get a new statement, to make sure the bank's calculations are in line with yours. Click here for a good amortization table tool.
Another great way to save on your house while you own it is to appeal your property taxes. The time is right. Many jurisdictions are still assessing homes at pre-recession values. The key to a successful appeal is showing that homes in your area are selling for less than your assessed value or that other similar homes have lower assessments than yours. Luckily, thanks to the internet, this research is easy to do. Zillow.com tells you what your neighbors are paying for their property taxes right in the Charts and Data section.