Scared Of Losing Your Job? Why You Need A Mortgage Free For Life 1
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A home is the best gift and investment any family can have.
But as time goes on, we quickly realize on average, at least 35% of our monthly salary, and in some cases more goes towards paying your mortgage bill each month.
There is nothing wrong with that except
Most of your payments go towards paying off mortgage interest rather than paying off principal.
And before you even realize it you are set up to pay for your mortgage for a lifetime. It could take anywhere from 30 to 40 years to repay the mortgage debt.
And what if your are extremely close to retiring.
Just imagine your mortgage outlasting you in retirement. When you pass on the home on to your kids they think they have a home but may be saddled with mortgage debt as well.
Their much anticipated inheritance could well turn out to be debt.
You have worked hard your entire life and been conservative and responsible with your money.
Is there anything else you could do to get rid of the mortgage burden before retirement or send your kids to college without changing your current lifestyle?
There certainly is. This overview will reveal how to accomplish this.
Lets assume that your largest debt and your largest bill is
Monthly repayments to your mortgage.
No longer do you have to pay all the interest that will be accrued on a long term mortgage.
By applying and using a Mortgage Free For Life Accelerator system , you will be able to slash your mortgage 10-12 years faster, reducing your interest burden without changing your lifestyle.
The fastest way to eliminate your mortgage debt is to use a mortgage acceleration system.
By definition, the Mortgage Free For Life Accelerator sometimes referred to as the Mortgage Free For Life Accelerator system is a term given to the practice of paying off a mortgage loan faster than required by terms of the mortgage agreement.
As interest on mortgages is compounded, early payments slashes the years needed to pay off your mortgage, which in turn reduces the amount of interest.
Most of us dont have the ability to make extra payments and have little wiggle room in our budgets each month. So this is where the mortgage acceleration steps in. Without spending more you can eliminate your mortgage payment.
It reverses your monthly payment to your mortgage. Instead of your money being applied to interest, the banks automatically apply more towards your principal whilst keeping the payment the same.
By using the mortgage accelerator, a typical mortgage can be paid off at least 13 years sooner, thus saving the homeowner tens of thousands of dollars and not having to change their way of life.
This is the biggest benefit of the mortgage acceleration system.
With this extra cash, you would be able to put your kids/grand kids through college, or purchase a second property for investment purposes or just have the extra cash to enjoy during retirement.
What is Required For The Mortgage Free For Life Accelerator Program In Order To Get Started?
Whats Required For Mortgage Free For Life Accelerator Program
- Real Estate has to be in your own name
- Have an existing Home Equity Line of Credit or you can qualify for a Home Equity Line of Credit
- Your bills do not exceed your income for the month
Is The Mortgage Free For Life Accelerator Only For A Fixed Rate Mortgage?
A Mortgage Free For Life Accelerator system is not only for fixed rate mortgages. If you have an adjustable rate, in many cases, you could pay off your mortgage faster with the Mortgage Free For Life Accelerator program. And when your rate adjusts, you have more equity in your home at that point.
And if you have an adjustable rate mortgage (ARM) the benefits are amazing. What you dont realize when you take out an ARM is that you mortgage term is longer than 30 years. So a 5 year ARM will take you 35 years to pay off. Why? Because once the adjustment period expires, the mortgage resets and you begin with a whole new 30 year mortgage all over again. And with a Mortgage Free For Life Accelerator you could end up paying off your mortgage in 20 years or less rather than the 35 years you are scheduled to pay off your mortgage.
And the benefits are the same for an interest only mortgage. Imagine the ability to pay off an interest only loan in under 30 years.
And heres what could happen when your mortgage is fully paid off in retirement. You could borrow from your home equity in the case of retirement emergencies and the worst case, you end taking on a reverse mortgage. The reverse mortgage will give you the option tap into additional cash if ever you run out of retirement funds.
When using the Mortgage Free For Life Accelerator program there is no need to pay excessive fees for financial advisors to explain this to you. Most of the check and bill payment features are included in the Mortgage Free For Life Accelerator and you get the benefit of using a fairly simple system, eliminating the need for consultations.
Ways To Eliminate Your Mortgage Early
1.Bi Weekly Payoff Plan
This is the most common way to pay off your mortgage faster. This is a simple plan because, instead of making one monthly payment, you will make half of your mortgage payment every 2 weeks. As there are 52 weeks in the year, this enables you to pay 26 bi-weekly payments. This calculates out to one extra payment a year. Doing it this way, you don't realize you have spent any extra cash.
Depending on your financial institution, your bank may not be able to accept bi-weekly payments. The best way to overcome this is to transfer bi-weekly payments to a savings account and pay the mortgage bill at the end of each month. At year end you will end up with one extra payment in your savings account which you should designate to mortgage principal.
2. Pay More of Your Monthly Paycheck Towards Your Mortgage
The fastest and easiest way to pay off your mortgage in rapid time is to pay extra each month towards mortgage principal. Any extra payments early in the life of the mortgage will significantly reduce the interest costs and will allow you mortgage to be paid off early. When making extra payment towards your mortgage principal, make sure you write on the face of the check that this payment must be applied towards principal only. At times, the banks will gladly accept the extra payment and apply a portion of this towards interest if not clearly specified that it must be applied to principal.
Types of Mortgage Acceleration Programs
Keep in mind when looking into Mortgage Free For Life Accelerator programs ; they may be referred by different names. For example, Mortgage reduction, interest reduction, equity accelerator, mortgage checking account, money merge account and debt reduction just to name a few.
What You Must Know About The Mortgage Free For Life Accelerator Program:
1.Your HELOC MAY BE FROZEN
Property prices have fallen recently over the last year. As a result banks may freeze your HELOC limit. This is done by their automated computer system. If you feel that the banks have frozen your HELOC in error, you can always do a valuation on your home, contact your bank and ask them to unfreeze your HELOC. As an alternative, you could use a credit card to slash years off your mortgage.
2.Lenders will try to influence you to borrow more or change your mortgage....To Discover More click on the links below.
But as time goes on, we quickly realize on average, at least 35% of our monthly salary, and in some cases more goes towards paying your mortgage bill each month.
There is nothing wrong with that except
Most of your payments go towards paying off mortgage interest rather than paying off principal.
And before you even realize it you are set up to pay for your mortgage for a lifetime. It could take anywhere from 30 to 40 years to repay the mortgage debt.
And what if your are extremely close to retiring.
Just imagine your mortgage outlasting you in retirement. When you pass on the home on to your kids they think they have a home but may be saddled with mortgage debt as well.
Their much anticipated inheritance could well turn out to be debt.
You have worked hard your entire life and been conservative and responsible with your money.
Is there anything else you could do to get rid of the mortgage burden before retirement or send your kids to college without changing your current lifestyle?
There certainly is. This overview will reveal how to accomplish this.
Lets assume that your largest debt and your largest bill is
Monthly repayments to your mortgage.
No longer do you have to pay all the interest that will be accrued on a long term mortgage.
By applying and using a Mortgage Free For Life Accelerator system , you will be able to slash your mortgage 10-12 years faster, reducing your interest burden without changing your lifestyle.
The fastest way to eliminate your mortgage debt is to use a mortgage acceleration system.
By definition, the Mortgage Free For Life Accelerator sometimes referred to as the Mortgage Free For Life Accelerator system is a term given to the practice of paying off a mortgage loan faster than required by terms of the mortgage agreement.
As interest on mortgages is compounded, early payments slashes the years needed to pay off your mortgage, which in turn reduces the amount of interest.
Most of us dont have the ability to make extra payments and have little wiggle room in our budgets each month. So this is where the mortgage acceleration steps in. Without spending more you can eliminate your mortgage payment.
It reverses your monthly payment to your mortgage. Instead of your money being applied to interest, the banks automatically apply more towards your principal whilst keeping the payment the same.
By using the mortgage accelerator, a typical mortgage can be paid off at least 13 years sooner, thus saving the homeowner tens of thousands of dollars and not having to change their way of life.
This is the biggest benefit of the mortgage acceleration system.
With this extra cash, you would be able to put your kids/grand kids through college, or purchase a second property for investment purposes or just have the extra cash to enjoy during retirement.
What is Required For The Mortgage Free For Life Accelerator Program In Order To Get Started?
Whats Required For Mortgage Free For Life Accelerator Program
- Real Estate has to be in your own name
- Have an existing Home Equity Line of Credit or you can qualify for a Home Equity Line of Credit
- Your bills do not exceed your income for the month
Is The Mortgage Free For Life Accelerator Only For A Fixed Rate Mortgage?
A Mortgage Free For Life Accelerator system is not only for fixed rate mortgages. If you have an adjustable rate, in many cases, you could pay off your mortgage faster with the Mortgage Free For Life Accelerator program. And when your rate adjusts, you have more equity in your home at that point.
And if you have an adjustable rate mortgage (ARM) the benefits are amazing. What you dont realize when you take out an ARM is that you mortgage term is longer than 30 years. So a 5 year ARM will take you 35 years to pay off. Why? Because once the adjustment period expires, the mortgage resets and you begin with a whole new 30 year mortgage all over again. And with a Mortgage Free For Life Accelerator you could end up paying off your mortgage in 20 years or less rather than the 35 years you are scheduled to pay off your mortgage.
And the benefits are the same for an interest only mortgage. Imagine the ability to pay off an interest only loan in under 30 years.
And heres what could happen when your mortgage is fully paid off in retirement. You could borrow from your home equity in the case of retirement emergencies and the worst case, you end taking on a reverse mortgage. The reverse mortgage will give you the option tap into additional cash if ever you run out of retirement funds.
When using the Mortgage Free For Life Accelerator program there is no need to pay excessive fees for financial advisors to explain this to you. Most of the check and bill payment features are included in the Mortgage Free For Life Accelerator and you get the benefit of using a fairly simple system, eliminating the need for consultations.
Ways To Eliminate Your Mortgage Early
1.Bi Weekly Payoff Plan
This is the most common way to pay off your mortgage faster. This is a simple plan because, instead of making one monthly payment, you will make half of your mortgage payment every 2 weeks. As there are 52 weeks in the year, this enables you to pay 26 bi-weekly payments. This calculates out to one extra payment a year. Doing it this way, you don't realize you have spent any extra cash.
Depending on your financial institution, your bank may not be able to accept bi-weekly payments. The best way to overcome this is to transfer bi-weekly payments to a savings account and pay the mortgage bill at the end of each month. At year end you will end up with one extra payment in your savings account which you should designate to mortgage principal.
2. Pay More of Your Monthly Paycheck Towards Your Mortgage
The fastest and easiest way to pay off your mortgage in rapid time is to pay extra each month towards mortgage principal. Any extra payments early in the life of the mortgage will significantly reduce the interest costs and will allow you mortgage to be paid off early. When making extra payment towards your mortgage principal, make sure you write on the face of the check that this payment must be applied towards principal only. At times, the banks will gladly accept the extra payment and apply a portion of this towards interest if not clearly specified that it must be applied to principal.
Types of Mortgage Acceleration Programs
Keep in mind when looking into Mortgage Free For Life Accelerator programs ; they may be referred by different names. For example, Mortgage reduction, interest reduction, equity accelerator, mortgage checking account, money merge account and debt reduction just to name a few.
What You Must Know About The Mortgage Free For Life Accelerator Program:
1.Your HELOC MAY BE FROZEN
Property prices have fallen recently over the last year. As a result banks may freeze your HELOC limit. This is done by their automated computer system. If you feel that the banks have frozen your HELOC in error, you can always do a valuation on your home, contact your bank and ask them to unfreeze your HELOC. As an alternative, you could use a credit card to slash years off your mortgage.
2.Lenders will try to influence you to borrow more or change your mortgage....To Discover More click on the links below.
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