Can you remember when you moved into your first home? How did that feel?
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.
Thats perfectly acceptable but
Most of your payments go towards paying off mortgage interest rather than paying off principal.
And before you even realize it you are set up to pay for your mortgage for a lifetime. It could take anywhere from 30 to 40 years to repay the mortgage debt.
And lets assume you are approaching retirement.
Just imagine your mortgage outlasting you in retirement. When you pass on the home on to your kids they think they have a home but may be saddled with mortgage debt as well.
Their inheritance sadly could be outstanding mortgage debt rather than the legacy of your home.
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
Monthly repayments to your mortgage.
You now can eliminate the significant amount of the interest payable on the mortgage debt.
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.
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.
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.
By definition, mortgage acceleration is the practice off accelerating the pay down of your mortgage in record time and changing the time it takes to pay off your mortgage principal.
The fastest way to pay off your mortgage early and reverse the payment of interest is to apply extra payments each month to your mortgage.
Most of us dont have the ability to make extra payments and have little wiggle room in our budgets each month. So this is where the mortgage acceleration steps in. Without spending more you can eliminate your mortgage payment.
It allocates your monthly repayment more towards principal and less towards interest costs.
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.
Youre in Your Late 20s and Just Bought Your First Home
Lets assume you have a 30 year fixed rate mortgage. The value of your mortgage is $300,000. If your interest rate is 6%, you will end up spending at least $347,514 over the entire life of your mortgage in interest payments alone.
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 can use the equity in your existing home to fund the down payment on an investment condo.
You may even consider retiring from your corporate job at that point.
Think about the quality of life by being debt free.
Heres the best part. You dont even have to change your existing standard of living at all.
What If You Are Already In Your 40s?
The biggest goal at this point would be to send your kids to college. Most of my clients dream of giving their kids a debt free college experience.
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.
Related posts:
- Step By Step Guide On How to Pay Off You Mortgage-
- Payoff Your Mortgage Faster. Free Mortgage Acceleration Calculator
- Growing Up IN A Recession. Mortgage Free For Life comes To Your Aid102
- Scared Of Losing Your Job? Why You Need A Mortgage Accelerator 101
- How To Pay Off Your Mortgage In 2 Ways For Debt Free Retirement 232
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