Daily Archives: July 21, 2010

How would your life be different if you no longer had a mortgage payment to make? Would you take more vacations? Would you purchase investment properties? Would you retire early?

Your options would surely open up without being tied down to that monthly mortgage. Wouldn’t you agree?

Why eliminate your mortgage? Here is one example of a 30 yr mortgage. The borrower borrowed two hundred thousand dollars at six percent. The total monthly payment is 1,199.00 dollars per month. They will have to make that payment 360 times. At the end of the mortgage the interest payments made to the bank will total $231,677.00.

So, with no additional money applied to your principal you will have paid a total of $431,677. This is the sum of your principal amount and the interest paid on top of that amount.

3 Most Common Ways To Eliminate Your Mortgage Debt Fast:

1) Send in extra cash each month with your mortgage payment and request that it be applied to the principal or sign up for a Bi-Monthly payment plan, where you in essence make two payments in half the amount each month. What happens here, is that at the end of the year you will have made one full extra payment which will be applied to pay down your principle balance.

Second, you can do a mortgage refinance loan at a reduced rate.

Third, utilize a Home Equity Line (heloc) account. Using this second loan (you have to learn how), you can successfully reduce your original mortgage amount.

These three pay down strategies are great, but the third is head and shoulders above the others.

One challenge is that most of us simply don’t have extra money at month end to send towards our principle. And to make this strategy effective, you have to do it in a consistent fashion.

The other problem is that the mortgage companies are getting rich using our funds throughout the month, before they make the payment, because the loan interest is calculated only 1 time each month.

3rd: Refinancing over and over makes us incur large fees and actually can extend our pay-off time.

It is now easier, because of computers, to eliminate our mortgage fast, by utilizing the latest technology.

Many families today are flocking to an interest-reducing program that combines innovative software with banking systems that have been around for decades, to pay off their mortgages in 1/2 the normal time and in many cases even 1/3rd the time.

This method has been popular in Australia for some time. Billionaire Richard Branson introduced it to the British a few years back. Now, homeowners in America can take advantage of it.

The traditional way, was for the homeowner to get paid, place the check into their checking and then pay the bills. Whatever was left would go in a savings account or be spent. The problem here is that so much is being wasted on interest on the loans and credit cards.

The new way: Using a Home Equity Line Of Credit (heloc) along with innovative software (your financial dashboard), homeowners are able to cancel out interest on their mortgage, with money they normally deposit in their checking and/or savings account. It has to be seen to be believed. All the homeowner has to lose is their mortgage.

I have never seen a program like it. Homeowners can literally slice decades off of their loan terms and save tens and hundreds of thousands in interest payments.

Whichever way you go, get rid of that mortgage faster. Follow this tip.

I have a whole chapter about this debt elimination message in my best-selling book, 3 Secrets Of Millionaires. It is that powerful. There is even the opportunity for my readers to download a free analysis of just how fast you can be debt free and how much money you get to keep instead of using it to make the banks and mortgage companies rich.

Looking for 3 simple ways to find the best deal on pay off your mortgage, make money from home and retire filthy rich Then visit download your free pay off your mortgage fast analysis.