Would you like pay your home off faster without doing anything RISKY?

How would your life change if you were free of your Mortgage payment 5 to 7 years early?

If you answer yes to any of ther first three questions you need to read more about this hidden route to immense riches.
In the current market it is hard to feel real confident that you could sell your home for a profit. By this I mean for more than you owe. If you are like most Americans you could sell for more than your bought, but selling for MORE THAN YOU OWE is a different story. Even if you got a great rate on your mortgage you started paying off your house once again the day you signed for your mortgage. If you'd like to get off this treadmill you need to learn a few SECRETS about Mortgages. Especially how the standard payoff schedule works.

 

Introducing the Standard Payment Schedule

Each month the mortgage company calculates the annual interest on your loan, divides that amount by 12 and debits that amount from your mortgage payment. Any leftover cash reduces the amount you owe. Next month they repeat the calculation. This time your interest cost is based on the slightly smaller amount that you still owe.

For example, if you are paying $1,199.10 on your mortgage (200K at 6%) this equals paying $431,676 for your 200K home. These payments include $231,676 in interest over the 30 year life of you mortgage. The first month you paid just under $200 of the $200,000 you owe. As time goes by, the monthly interest charges you must pay decrease, and you buy a little more of your house until one day after 30 years own totally your home. Part of the reason that it takes so long to pay off your home is your mortgage is set up so you pay the maximum amount of interest they can get first.

This is the standard way mortgages are payoff (amortization) schedules are created. This is a plan that maximizes the amount of cash paid to the bank. Because you pay interest first out of each mortgage payment.

Now introducing a better way to pay!

What if there were a way that you can speed up paying off your mortgage using a paymebt scheme fits a biweekly paycheck schedule? If there was a plan that could take 5-7 years off the term of your mortgage would you be interested? Stick around for a minute and you'll see a nifty plan that does all of these things.

Every other week, the system debits half of your monthly mortgage payments from whatever account you specify. After two payments are debited, the next month's payment is sent electronically to your bank. The funds debited from the two extra payments become a special payment that reduces what you owe on your mortgage.

Interest costs eat up none of these funds since your previous payments covered all of this years interest costs. After making this bonus payment, every following monthly payment reduces what you owe a little more than originally planned. Every month you owe less interest so you pay off even more of your balance. Each payment reduces your balance due more than planned so you end up saving big bucks. You get the idea once you get a little ahead on your interest; your payments have more debt reducing power. Eventually these little savings turn into an avalanche of cash.

Now for How 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. Each year once a year, you get even further ahead. Now you've got compounding working to your advantage. 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 skip 5 to 7 years of payments. Right now, the due date on my second mortgage is February 2006. (Today is 30 September 2005).

Also, using a loan payment schedule that benefits you, the consumer (like we will show you) you will reach the original end of your mortgage payoff schedule with a paid off home and have thousands extra in your bank account. Every dollar that you don't give to lenders is two more (approximately) dollars that you don't have to earn.

What would you do if you were free of the obligation of making mortgage payments? Without living in a trailer down by the river (Chris Farley)

Even if you sell in a few years you will find that you could end up thousands ahead. You could even turn a tax loss sale into a profitable experience. Know, I did just this in 2000!

Effortlessly build real wealth

Once again being free of the crushing burden of debt allows people to once again enjoy their lives. Instead of spending thousands of dollars on paying interest (either on credit cards, auto or home loans) these same people can rearrange their affairs to reduce or eliminate their interest costs which will let them once again not have more money to spend on their families, faith, or fun.

What will you do with all the money you'll save when you download this software and decide to accept their savings offer?

To discover how you can BUILD YOUR FORTUNE by Paying YOUR MORTGAGE on your customized schedule Download Mortgage Manager© software. This software provides a free assessment of your payoff options and a FREE enrollment form so you too can join the Real Estate Wealth building revolution.