One of the biggest financial purchases a person makes in life is a house. And more often than not, a home loan is needed to finance the purchase.3 Steps If You Want To Pay Off Your Home Mortgage .
But how many people have been told that the current way of paying off a mortgage is like a cancer for our financial health?
The mortgage and banking industry offered the unsuspecting public the most expensive 30-year amortized fixed mortgage, a financial cancer similar to the cigarette industry offering cigarettes.
American consumers had no choice but to use a mortgage, which only benefits banks and mortgage companies.
A revolutionary mortgage program is now available that will show them how to pay off their home loan in just 7 years.
This powerful new tool to combat the current financial scourge of debt combines a mortgage and a full-service bank account.
The new all-in-one loan creates huge savings on interest payments and loan repayments in half to a third of the time, requiring little or no change in current spending or income habits.
How does it work? Homeowners deposit income and other assets into the new mortgage account, and because it allows access like a checking account, expenses are paid by check or ATM.
The key thing is that when the owners’ money is not used, it sits in the mortgage account, reducing the daily loan balance on which interest is calculated.
This saves hundreds of thousands in interest on average over the life of a typical loan, and lower interest means more money for principal; therefore, the homeowner accumulates equity faster and owns their home sooner.
There are three steps the consumer can take to reduce the mortgage payment and enjoy a home paid off in just 7 years.
Decide what your goals are One of the first steps in The Mortgage Eliminator program is to get a clearer picture of your financial orientation and decide what kind of goals you want to achieve. a look at where you were five years ago. What kind of expectations did you have in relation to?
1.Did you expect certain things to happen at this hour? If not, are you willing to make changes to achieve those goals? Goal setting is important because it allows you to create a flexible plan and schedule that you can implement and stick to. Imagine where you want to be in 5 years.
2.What would you like to accomplish? Let’s say some of your goals are to have an emergency fund of at least one year of your current income and you would like to reach that amount in, say, 2 years.and another goal (if you have a child or children) is to set aside a college fund.
3.And finally, you’ve always dreamed of that sports car you’ve always dreamed of since your teenage years. Now that you have goals in mind, what would it take to achieve them? And keep in mind that your household income will likely remain constant.
4.Are there currently any investment options or debt elimination options that can help you achieve these goals? Using your flexible mortgage account through The Mortgage Eliminator can dramatically increase your ability to save interest and money and free up resources to help you achieve these goals.
5. And it doesn’t have to drastically change your spending habits or your current household income. Just determine your budget and where the money you earn is spent in your life.
6.Set a budget The next step to paying off your mortgage quickly is to look at your current spending habits and set a budget.How difficult is it? It depends on your level of commitment and your ability to discipline yourself in reviewing your budget.
7.One way to help homeowners is to use the included budgeting software and the personal coaching and review available with The Mortgage Eliminator, from Money Principal Group. Studies show and human nature reflects this is that if we have the tools A