Shrink your housing costs
Selling your house might seem like a dramatic way to get rid of your mortgage, but it's certainly effective, leaving you free to buy a more affordable home for cash or become a renter without any housing debt.
Whether downsizing makes sense is largely a matter of your needs and personal lifestyle, yet Rogoszinski suggests it's "definitely something to consider." However, don't try to time the housing market by selling high and buying low. That's a strategy more appropriate for professional real estate investors than homeowners.