Here are a few of my favorite ways to lower your mortgage balance quickly and effectively!
Pay Off Sooner by Paying Sooner- Bi-weekly mortgage payments have become very popular as a way to pay off your mortgage faster. You would make a mortgage payment every two weeks instead of once per month. This is very simple since you can do it yourself and it takes very little effort. Your extra payment will apply directly to principal, thus paying your mortgage off quickly.
Decrease Your Mortgage Term- You could elect to refinance and change your 30-year mortgage to a 25, 20, or even 15-year mortgage. Bear in mind though, that your monthly payments will be considerably higher. Generally speaking, a shorter term will offer substantially better interest rates. Your payments go up, but more of your money goes to your principal balance.
Home Ownership Accelerator- This program is for those who like simplicity. You roll your entire mortgage into a Home Equity Line of Credit, or “HELoC”. You would deposit your paycheck into the account and pay your bills out of the HELoC, no need for a checking account! You would keep your daily balance low by depositing your check and the amount you would save in interest would be in the tens of thousands. In addition to that, the extra money you don’t spend is applied directly to the principal without you even realizing it. The downside though is that the loan does not have a fixed interest rate and is completely at the mercy of the market. For those looking for a more stable product, see below
“The Fastest Way to ZERO”- The Money Merge Account is an incredible vehicle that was designed to take your entire financial situation and calculate the fastest way to ZERO on your mortgage. This is a software program that accompanies your current loan in conjunction with a HELoC that can help you pay your mortgage off in as little as 8 years. This revolutionary program actually cancels interest! This is by far my favorite way to pay down your mortgage quickly and safely. It takes the best features from the Home Ownership Accelerator and adds the safety and stability of the loan you already have. The best part is that you don’t have to refinance to take advantage of it. There is also a referral program offered by the software manufacturer where you could make money by saving your friends and family thousands! Call for details.
For more information on how you can save thousands in interest, see www.ProLoanBroker.com or call Adam @ 951.318.1162
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