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Payoff Your Mortgage - Use the Fastest Method Without Cutting Into Your Paycheck

Aug 27, 2008
The current mortgage system is designed to squeeze as much money out of you as possible...

WARNING: you're at a severe disadvantage because mortgage companies charge as much interest as long as possible without informing you in a clear way all the steps you can take to change it.

The current system requires your payments follow an "amortization schedule", which forces most of your money to go towards interest.

In the first five years, you could end up spending five times more in interest than in mortgage principal - and that's a huge chunk out of your paycheck! So if you make $12,000 in principal payments, you end up spending $60,000 in interest. Unbelievable! For a simple calculation go to Bankrate.

And when you move, the bleeding starts all over again...

The banks know you'll probably move again or refinance in 5 years, and then the cycle of paying more interest starts all over again.

It takes years before your loan balance is reduced by a small amount-how unfair is that?

How many years have you been paying off your mortgage and are you really further ahead?

But here's how to fight back...

You're going to love this...there's an improved method you can use to reduce these interest payments.

The way to do this is simple. Apply more of your monthly mortgage repayment to principal rather than interest without changing your repayment or refinancing your mortgage.

For example, if you pay $1,200 towards your monthly mortgage repayments, $1,100 goes towards interest and $100 towards principal early in the life of the mortgage.

You can pay more to principal, less to interest...and it's perfectly OK with the bank!

Hang onto your seat, because now there is a way to apply $900 towards interest and $300 towards principal without changing your lifestyle or paying more anything...and the best part is that the banks will gladly accept this!

This method has been around forever but nobody has figured out how to use it.

Until now.

Wouldn't you like to shave 13 years off your mortgage? You can! Here's how...

Your mortgage can be paid off in one-half to one-third of the time. Most of our clients shave at least 13 years of their mortgage without spending a cent more.

And no, you do NOT have to refinance or get another mortgage; just have an open mind and a willingness to tackle a common math problem!

The concept is really simple. All you have to do is use a mortgage checking account the right way. Once you set this up you begin immediately allocating more of your payments to principal rather than interest and end up paying your mortgage much faster. The best part of all, the banks happily accept this.

Here are the 7 basic steps you need to follow:

1. Calculate your personal "HELOC number."

2. You set up a Home Equity Line Of Credit (HELOC) for the Heloc number.

3. You pay your bills and mortgage on time.

4. You transfer money to your HELOC at the right time.

5. Your bank takes care of the rest-and they're happy to do it!

6. Create a spreadsheet to make sure you stay on track.

7. ...and YOU PAY OFF YOUR MORTGAGE AS EARLY AS 13 YEARS SOONER THAN NORMAL, AND SAVE AN AVERAGE OF $67,636 CASH!

You will NOT have to change your day-to-day spending habits or your lifestyle to take advantage of this concept. It's a sound, smart way to pay down your mortgage.
About the Author
Go directly to href=http://www.eqxl.com, EquityExcel. You will find out the step by step method to pay off your mortgage and the risks to avoid so that you don't lose your home in the process, and you will be on the path to financial success.
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