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Home –› Banking & Finance –› Mortgage Loans
 

Save $174,000 On Your Home Mortgage

 
Author: Craig Cherry
 

On your existing $150,000 30-year mortgage at 7%, you will pay over $359,000 in total payments. I don't know about you, but the idea that it will cost me $209,000 in interest to borrow $150,000 for my house is not a pleasant thought. Banks are building wealth at the expense of my family's wealth and legacy.

Would it be worthwhile to you:

- to know how to completely pay off your mortgage in about one-third the time, legally, ethically, and morally, using the banks' own processes?

- to know how to save hundreds of thousands in interest on your mortgage without incurring new debt or changing the amount of your payments?

- to increase positive cashflow in your life? Statistics indicate that fully 40% of the US housholds pay out more than they take in(cash negative), 35% barely break even(cash neutral), and only 25% pay less than they make. So you are not alone.

- to start earning interest rather than paying it? By rearranging the elements of how your payments are made you will start earning interest rather than paying it. It matters 24/7 where your dollars are sitting.

- to transform your debt, including your mortgage, into real wealth?

Just knowing that it is possible to do these things lead me to explore how. I found that the details of these methods are available if you are willing to pay for the information, and the amount of the savings involved more than justify the cost of the information. We all know that just because we know something doesn't mean we will do it.

Have you ever thought to start saving more or to get yourself on a budget? Only one person out of eleven will actually self-start AND self-finish in any financial plan. You could find the information yourself, and you may even put together all the processes to get started, but what will it take for you to be the one that will stick with your plan every week and every month until all your debt is paid off.

The answer is to completely outsource the discipline. You don't want to give up your freedom or control, but for that $174,000 in interest savings it is worth it to have someone make sure I follow through with the plan. I recommend that you do the same. Here's an example of the kind of savings you can expect from an effective plan:

****************************************************************

Example of Savings When Daily Calculated Interest Matters

Traditional Mortgage,
$150,000(original loan amount),
7% Interest,
After 5 Years = $9,000 Equity,
30 Years To Pay Off,
Total Paid $359,000,
Interest Paid $209,000

After 10 Years = 10% Principle Paid,
After 22 Years = 50% Principle Paid

Accelerated Plan,
$150,000(original loan amount),
7% Interest,
After 55 Days = $6,500 Equity
6 Years 2 Months To Pay Off,
Total Paid $185,000,
Interest Paid $35,000

Interest Savings $174,000

****************************************************************

* The projected savings are based on a $150,000, 30-year, 7% mortgage - your results will be based on your mortgage and debt.

 
 
 

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