Pay Your Mortgage Off Early
Pay Your Mortgage Off Early
Pay Off Mortgage 2x Faster
If you want to pay off your mortgage, be free and save thousands of dollars in interest then there is a simple way for you to do it.
We know that any mortgage pay off techniques to make sure your money is going to the principle. It seems tough to pay off mortgage principle because the majority of your mortgage payments are going to pure interest. But, if you lower the principle early instead of over time, you’re going to save tons of interest and pay off mortgage principle incredibly fast.
Honestly, you’re going to have to pay off mortgage principle at some point, so why not avoid all the interest while you do it?
But, when do you do it? And, how often should you pay off mortgage principle?
If you want to successfully pay off mortgage principle 2x as fast you’ll need to pay the principle… each month. Just put a little extra down before your monthly mortgage payment.
You see, when you pay off mortgage principle like an investment. No, you won’t be getting your money back directly, but it pays dividends in the future with interest savings and a mortgage free life.
Secondly, HOW MUCH DO YOU PAY OFF MORTGAGE PRINCIPLE WITH?
You probably don’t want to sacrifice your standard of living but you still want to pay off mortgage principle as quickly as possible.
Here is a good way to do that. Calculate 3-4% of your current mortgage payment. Write a check for this exact amount to pay off mortgage principle. This usually doesn’t put too much financial strain on people’s lives yet it will reap decent results in interest savings and pay off mortgage principle very quickly when the payment interest calculations snowball and decrease (more on this in other reports.)
WORD OF CAUTION: you want to write ‘for prepaid principle’ on this check so that the bank doesn’t apply it to your next mortgage payment. You won’t pay off mortgage principle at all if this happens.
One more thing, if you’re interested in the more powerful insider techniques to pay off mortgage principle and save big on interest, make sure you check out The Mortgage Loophole Report
Homeowners are savings over 84% interest and pay off mortgage principle over 7 times faster with this technique.
About the Author
The Mortgage Loop Hole Report at http://BankingAndMortgageSecrets.com
Should I payoff mortgage early or invest?
I know traditional wisdom says don’t pay off your mortgage early. You are paying 5-6% tax-deductible and you’ll do better investing.
However, I’m looking at this question more closely now, since I may be in a position to do it in the near future. Let’s suppose I have enough money to payoff my mortgage today. How do I create an investment that:
1) Is safe
2) Provides enough cashflow to make mortgage payments until the mortgage is gone.
Safe investments like CD and bond ladders don’t seem to cut it. They pay 3-5% and you have to pay taxes on the interest payments. Is there another product that would do the job?
I know I could invest in the stock market, but you can’t fairly compare a guaranteed savings (payoff debt) to a risky investment. You have to compare it to a safe investment.
It has always been my philosophy that paying off the mortgage early is a sound financial proposition. I did. But my mortgage was at 7%. Maybe at 5% it is not so advantageous. But it is a safe and sure investment. Not only that, but when you no longer have a monthly mortgage payment, you are in a more secure financial situation. Something that was always in the forefront of my mind.
The old saying that a bird in the hand is worth 2 in the bush also applies to investments. A sure 5% return is worth a potential 10% return. And over a 30 year mortgage, there are few investments that will return 10%.
How to Save Money On Your Mortgage without Refinancing
