Mortgages are collected monthly because it makes the math work out easier for the Bank. They don't care if you don't get paid enough to cover this payment until the 12th of the month. They don't care, because, if you are late with your payment, they are entitled to an extra 5 to 10 percent of your monthly payment. Do that a couple times this year and you will have given your banker quite a few dollars of pure profit. To confidentially explore how you can easily avoid this problem, click here.

Through the rest of 2007, if you get paid biweekly, your first paycheck could be as late as:

October 2007	12th
November 2007	9th
December 2007	14th (Yipes!!)

In 2008, if you get paid every other week you could see your first paycheck of the month as late as

January 2008	11th	May 2008	9th	September 2008	12th
February 2008	8th (OK)	June 2008	13th (Ouch!)	October 2008	10th
March 2008	14th (Yipes!!)	July 2008	11th	November 2008	14th (Yipes!!)
April 2008	11th	August 2008	8th	December 2008	12th

During 2008, if you wait until you've gotten two paychecks to (enough to pay this bill) your bank account you will be ready to pay this bill until the last 2 days before the grace period endss so you are just about certain to owe your bank a late fee. Most mortgages payment is due on the first of each month but they grant you a 15 day grace period. If they process your payment after the 15th you owe an extra 5% to 10% as a Late Fee.

Worst yet, if you are paying late fees on your mortgage, you could soon find yourself paying more for all of your credit. Many credit card companies can (and will) raise the interest rate on your account if they see late mortgage payments. They figure, if you are late on a payment that you must make, what risks are they taking lending you money with no security. By the way: most mortgage companies will "forgive" your first late payment, but forget about asking again.

In 2008, you will need to carefully time Mortgage Payments during up to 9 months.

HOWEVER, I worry about timing NONE of my Mortgage payments!

Because There is a better way

Wouldn't making your Mortgage payment be a lot easier if you could setup a system where half of your Mortgage payment was debited from your account every two weeks then after every 2 payments (within the grace period) the amount of your Mortgage payment is transferred to your Mortgage Banker. All you have to do is keep enough funds in your account to cover the debits (overdraft protection counts), every Mortgage payment will be on time. NO MORE LATE CHARGES!     No more EXPLAINING LATE MORTGAGE PAYMENTS!   No More ANNOYING Phone Calls! No more FIGHTS with your spouse over Late Fees!

How would you feel if never being late again came with a Big boost in Wealth?

This is your lucky day. Even if you are using this program simply to avoid late fees, you will get another powerful benefit. FREE. As a result of the way this program is constructed you will pay your mortgage off up to 7 years early!

 

So, Wise Guy, How Does This Work?

Quite easily. This program takes advantage of a quirk in our calendar. While there are 12 months in a year so you end up paying each year of your mortgage in 12 equal chunks, there are 52 weeks (13 four week chunks). If you are paid every other week, you get 26 paychecks per year. With this program half of your mortgage payment is deducted every other week just as you get paid. This schedule leads you to effortlessly make an extra payment every year. Since your first 12 payments covered all the interest you owe of the year, this extra payment (probably including escrow's) completely reduces the balance due on your mortgage.

So How does this help?

Each month your banker calculates your interest cost for that month by multiplying the interest rate (lets say 6% or 0.06 times) by the outstanding balance to get the current annual interest cost. For the mathematically inclined that could look like

Annual Interest Cost = Interest Rate (i.e.. 0.06) * Outstanding Balance (200,000)

Annual Interest Cost = 0.06 * 200,000 = 12,000 (or 1000 month = 12,000/12)

The annual cost is divided by 12 to figure out how much interest you are paying this month.

In our above example, the monthly interest cost for your next payment would be $1,000. Believe it or not, most mortgage lenders make exactly this calculation every month (unless you sign up for a mortgage with a prepayment penalty -- which you should replace TODAY!)

If you make your minimum monthly principle and Interest payment, after 180 (15 years), 240 (20 years), 360 (30 years) or even 480 (40 years) you will have paid enough interest and principle to own your home free and clear - NO MORE MORTGAGE PAYMENTS!

Now, How Do You Get Ahead!

However, after making this extra payment the next month your outstanding balance has been reduces the amount on which you must pay interest. For example, in our above example after the extra payment of 1,000 then that month the Annual Interest Cost would become

Annual Interest Cost (11,940) = Interest Rate (0.06) * 199,000

Monthly Interest = 11940/12 = 995.

I know this first month you've only reduced your interest cost by 5 dollars, but that 5 dollars means that each month you are paying off more than expected. And it adds up. Here's more, once a year, you end up making an "extra" payment with no interest deducted so you get even further ahead.

You've put compound interest to work for you

Each month you get farther and farther ahead of the payoff schedule your banker set up for his/her benefit. Eventually you can get so far ahead that you finish paying your mortgage 5 to 7 YEARS EARLY.

Once you've downloaded our free analysis software and seen how much this Program will help, after you sign-up you get a schedule of when every debit will occur. Then you can set yourself up to fit your mortgage payments to when you get paid not the other way around.

What will you do with all the money you'll save?