When you bought that first home it felt as if was a dream come true.
But as you earn your paycheck each month, you quickly realize that sometimes approximately 40% of your monthly hard earned paycheck goes towards paying off your mortgage and it feels worse as most of that is just for the mortgage interest payments.
This seems acceptable however
A big chunk of your payments goes towards paying off interest rather than your mortgage principal, especially in the early years of your mortgage.
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 much anticipated inheritance could well turn out to be debt.
You have managed your debt so that expenses will be minimal at retirement.
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
Your monthly mortgage repayment.
No longer do you have to pay all the interest that will be accrued on a long term mortgage.
The mortgage accelerator system will help you save thousands and get rid of your mortgage debt at least 13 years faster, even if you chose not to change your lifestyle or spend more.
Government Statistics (by mortgage insider) show that over 80% of Americans live in debt.
Less than 5% of Americans are able to actually retire financially independent.
To retire without the burden of debt the easiest step is to pay off your mortgage first.
Mortgage Acceleration is the quickest way to eliminate mortgage debt without you changing your lifestyle.
Mortgage acceleration is a term used to accelerate the pay down off your mortgage faster than that is shown in your mortgage amortization schedule.
As interest on mortgages is compounded, early payments slashes the years needed to pay off your mortgage, which in turn reduces the amount of interest.
But most homeowners dont have extra money to pay towards their mortgage in the earlier years. So by using the mortgage accelerator it automatically allocates extra principal to your mortgage without you even realizing this.
It takes your monthly payment and automatically applies more of this to principal rather than interest.|
And the biggest benefits of all, your mortgage could be paid off in less than 10 years. Imagine saving thousands.
This is how mortgage acceleration can be applied to your situation and change your financial life.
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.
Youre in Your Late 20s and Just Bought Your First Home
You bought your first home for $ 300,000. Based on your credit and earnings, you qualified for a 6% interest rate for your first home. Your total repayments over a 30 year period, for interest only, will be approximately $ 347,514.
You guessed right, the repayments are more than you borrowed on the home.
Using the techniques of the mortgage accelerator, you could end up rapidly paying down your mortgage, slashing 13 years off your mortgage without changing your lifestyle or spending more.
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.
Imagine how you life would change when you dont have any major financial burdens.
Remember we do this without changing our current lifestyle or having to make any sacrifices in the way we live.
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.
Imagine your kids stuck in a corporate job spending 10 -15 years of their life paying off college debts. That financial legacy will continue to perpetuate itself to their kids and so on.
By using the mortgage accelerator system, you can pay for their education using the equity in your home to supplement their college education fees.
This eliminates the need for the kids to apply for student loans, which forces them in debt after graduation.