Is it really possible that you can pay off a 30-year
mortgage in less than 10 years...
...without refinancing...
...without necessarily increasing your total monthly expenditures...
...and without debt consolidation?
Yes, it is! Thousands of home owners have learned that it can be done!
This may seem to be too good to be true at first, and you may not easy
accept what we share with you here; because we're all conditioned accept the
status quo. The banking industry truly doesn't want you to know our method.
They would rather that you pay your mortgage payments over a long period of
time, so they can maximize their profit, at your expense.
In this article, we're going to spill the beans, and reveal some of the
secrets the banking industry has been keeping from us far too long!
If you want to pay off your mortgage as fast as possible, it benefits you a
great deal to find a way to put extra funds toward the outstanding balance
as soon as possible. But to do this doesn't mean you have to spend more than
you already spend per month. It's actually the method of payment that will
save you the most money! And we're talking about huge savings!
Where do the extra payments come from? Even a little extra money paid in the
beginning pays huge dividends in the long run; because the huge interest
charges early in the loan really cause whirlpools in the bottom line! Most
home buyers aren't aware that they can easily lower their interest cost, and
apply a lot more to the principal instead. Far too many home buyers fail to
make the simple corrections! Although once we see the significance of paying
down the principal, and follow our proven method, they get on track to pay
off their mortgage very early; often in as little as 8 1/2 years.
Front-Loaded Interest: A Big Reason You Haven't Been Able To Pay Off Your
Mortgage Quickly
If you take a look at your mortgage amortization table, you'll discover
something very interesting. I'll just lay out the facts for you here, using
the example of a $150,000 30-year fixed-rate mortgage at 6% APR.
In the first year of your mortgage, you pay $10,791.96 (12 monthly payments
at $899.33), and a whopping $8,949.89 of that goes to the bank for interest,
NOT the principal.
That's a whopping 82.93% of your payments that went to interest... flushed
down the toilet, and into the banks' pockets. That's your hard-earned money
going bye-bye, since it doesn't pay off your loan at all!
Of your first year payments, only 17.07 % applies toward the real problem -
the principal, that stands in your way of paying off your loan.
The sad thing is, even though you paid $10,791.98 on your $150,000 mortgage,
the principal still stands at $148,157.98.
That means that the equity you'd have in your home would be $1,842.02. You invest$10,791.98, and get back only $1,842.02. (That's an effective interest rate
of over 500% in that first year.) To come up with that number, we must
understand that we paid close to $11,000.00 to end up with a measly
$1,842.00 in equity. Yikes! The effective interest charged by the bank
reducing the bottom line to such a dismal level is astoundingly high!
This is a prime example of how your bank front-loads the interest during the
first years of your mortgage. And to make it worse, most people sell, or
refinance, within the first 5 years of their mortgage, making the
front-loading even worse for the borrower. It helps them squeeze every
dollar out of you when you start all over again.
In fact, the only way that a 6% interest is ever 6%, is if the borrower
actually stays with the mortgage for the full term (30 years, in our
example). Only a very small fraction of homeowners actually do this. If you
sell or refinance at any time before the maturity of your mortgage, the
effective interest rate you end up paying is usually much more than 6%.
So, How Do We Pay Off Our Mortgage Quicker?
It's simple. Turn the tables on the bank! We've shown you how they
front-load the interest. Now you know what thousands of people who are
already paying off their mortgages early have
learned: find a way to pay a larger portion of each payment toward the
actual debt. Oh yes, it's easy to do!
But there's another problem.
The banks have ways of keeping this information from you. They're just not
going to share any secrets, because it would hurt their bottom line. So they
they've laid out a minefield to make it very difficult for the home-buyer to
reverse damaging trend of front-loading.
But take our word for it: there is a way, - a method - to legally, and
easily, maneuver through this minefield, and pay off your mortgage in a
fraction of the time. Thousands of home buyers have learned what you can
learn with us, and are already doing something about it!.
Mortgage acceleration--true mortgage acceleration--is the key to success!
Proven, 6-Year Old System Has Already Shown Thousands How To Pay Off Their
Mortgage In An Average Of 8.5 Years...Saving Them An Average of $21,000 A
Year On Their Mortgages...Without Changing Your Lifestyle! Get Your Copy Of
The Report Now! Go to
http://mortgageaccelerationreport.com
By D.K. Fynn is a researcher and prolific writer who is devoted to showing
people how to pay off their mortgages faster. To find out more about D.K.,
go to:
www.mortgageaccelerationreport.com
