When you first moved into your home it seemed like the best financial move.
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.
This seems acceptable however
Most of your payments go towards paying off mortgage interest rather than paying off principal.
If you decide to refinance or move to another home your 30 year mortgage automatically now becomes a 40 year mortgage. For most of us it could take up to four decades to pay off the mortgage.
And what if your are extremely close to retiring.
Your mortgage could last longer than your retirement and then your kids get to inherit your home. But wait they will inherit the mortgage on your home and will be burdened with this as well.
Their inheritance sadly could be outstanding mortgage debt rather than the legacy of your home.
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?
Well I am excited to show you a new approach to this below.
By this point you may only have one large debt
Monthly repayments to your mortgage.
No longer do you have to pay all the interest that will be accrued on a long term mortgage.
Using the method of mortgage acceleration, you could save thousands in interest and pay off your mortgage at least 13 earlier, without spending more or refinancing.
A leading financial magazine has conducted a survey on debt. It shows that almost 83% of American homeowners are in debt with the mortgage their biggest debt.
Less than 5% of Americans are able to actually retire financially independent.
One way to become financially independent is to eliminate your largest debt, your mortgage.
The fastest way to eliminate your mortgage debt is to use a mortgage acceleration system.
Mortgage acceleration is a term used to accelerate the pay down off your mortgage faster than that is shown in your mortgage amortization schedule.
By making additional payments towards your mortgage in the early years, you could pay off principal at a rapid pace and end up paying off your mortgage earlier.
You may not have extra payments each month as you may want to invest this or use this for personal spending. By applying the mortgage acceleration system it is a smart way of making more of your payments to principal and ends up paying your mortgage faster, all without paying more.
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.
And the biggest benefits of all, your mortgage could be paid off in less than 10 years. Imagine saving thousands.
This is the biggest benefit of the mortgage acceleration system.
With this extra cash it is not uncommon for you to buy a second property and earn a second stream of residual income for life. And just imagine not only do you eliminate debt but now have more money in retirement.
Situation 1: You Are in Your 20s and Have at least 40 Years to Retirement:
Your mortgage is a 30 year mortgage with a pay off amount of $300,000. At 6% interest, you will be paying $347,514 in interest at the end of 30 years.
Isnt it interesting you have to pay back more than you initially qualified for on your mortgage.
With the mortgage acceleration system you could slash at least 13 years of your mortgage saving over $67,000.
Now, you can completely eliminate your mortgage before you reach 40.
You will now be able to use the extra cash you have each month to buy a 2nd home or an investment property.
Just imagine, with no mortgage you could think of opening your own business and on your way to an early retirement.
The thought of enjoying the benefit of everything you worked long and hard for, in your later years will make you healthier in the long run by being stress free.
And remember, you haven’t changed your current lifestyle at all.
What If You Are Already In Your 40s?
Lets assume you want your kids to have a debt free college experience and you planned on paying for your kids college fees.
Assume if you kids financed their way through college by taking out loans. Imagine what their life would be like once they finished college.
Using the debt payoff accelerator system you can build equity in your home and use this equity to pay for college fees. You dont have to worry whether they may qualify for loans or your investments will be enough to cover the student tuition.
Imagine the gift of a debt free college experience at graduation.
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