Especially if you're over 40, shortening the term of your loan to pay it off sooner could make you mortgage-free in retirement.

Since the sale of her business Barbara Corcoran has become a prominent figure in the New York real estate scene. She is also a business consultant via her consulting and televison production business Barbara Corcoran Inc. As a television personality Barbara Corcoran is a "Shark" investor on ABC's Shark Tank.

As a television personality Barbara Corcoran is a "Shark" investor on ABC's Shark Tank.