Do you realize that your hard earned paycheck is applied towards mortgage interest making the bank rich?
And it could take almost thirty years, and if you refinance along the way over 40 years to pay off that mortgage.
And lets assume you are approaching retirement.
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 worked hard your entire life and been conservative and responsible with your money.
And now the question is could you pay off your mortgage before you retire so that you get to spend time with the family and enjoying retirement rather than using your retirement savings to pay off mortgage debt?
There is a smart way out. And I will reveal this to you in this article.
We will make an assumption that your largest monthly bill is
Your mortgage.
You now can eliminate the significant amount of the interest payable on the mortgage debt.
By applying and using a mortgage acceleration system , you will be able to slash your mortgage 10-12 years faster, reducing your interest burden without changing your lifestyle.
And when they approach retirement 35% of them still have over 20 years left in mortgage repayments.
One way to become financially independent is to eliminate your largest debt, your mortgage.
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 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.
By using the mortgage acceleration , a typical mortgage can be paid off at least 13 years sooner, thus saving the homeowner tens of thousands of dollars and not having to change their way of life.
This is how mortgage acceleration can be applied to your situation and change your financial life.
By living debt free in retirement you have the option to travel and set the way for your kids to follow your good financial habits. They never have to work just to pay off debt.
Here is where I would start:
Have you asked your broker or banker how much you are scheduled to repay on your mortgage over the entire 30 year term?
You are going to find out why you should be asking this question.
Everyone knows that interest is the bulk of your monthly payment the first few years, which is in favor of the lien holder. And no one disputes it. It is considered normal business procedure. But if you have crunched the numbers on the average mortgage, you would be amazed, and probably quite upset.
The mortgage acceleration system can be applied in various ways to help pay off your mortgage early and completely eliminate debts in other areas of your finances. Once you understand this system you will be able to apply this in multiple ways to completely live and enjoy a debt free lifestyle.
Imagine for a moment living free and clear from having a mortgage payment and retiring on your terms no matter your age. And the best part is that all your retirement funds are used to live your life to the fullest and not used to pay for debt. For me, this is my retirement dream. What is yours?