How You Can Make Accelerated Mortgage Payments Without Spending More Of Your Money

Accelerated Mortgage Payments Strategies

An Accelerated mortgage payment is the fastest way to pay off your mortgage early. And there is a new technique to help you accelerate your mortgage payments without spending more or changing your mortgage.

Let me ask you a question. Let’s assume you had extra money each month, what would you rather do?

1. Deposit your money in a money market account or an account that gives you a high interest rate say 5% a month

2. Make accelerated mortgage payments each month

3. Try and invest conservatively in the market maybe starting out with an index fund with low fees or maybe mutual funds

4. Use the extra money you have and keep continuing to contribute towards a 401 k

So I decided to hit the streets and find out first hand for myself what people where thinking and find out for you the best option, especially in today’s economy. The results were almost equal with one winner only by a small amount.

Option 1 was a favorite choice. Invest your money in a money market account seemed to be favored by most people.

Those results were expected considering that most people are frustrated investing their money and prefer to keep this in the form of liquid cash.

But what about making accelerated mortgage payments.

When you borrow a mortgage to finance your home the total repayments is almost twice what you borrowed on the mortgage. It is not uncommon to pay over $450000 for a $230000 mortgage.

And do you know if you make one or more accelerated mortgage payments each year you can save over $51000 in interest and even chop 6 years off your mortgage.

This is a good strategy of accelerating your mortgage if you have the extra cash to make more payments towards your mortgage every year.

What if there is an emergency or you need to use those extra funds to pay additional bills and have no extra money left at the end of the month?

There is a new technique to accelerate the payment of your mortgage without changing your lifestyle or your mortgage payments.

Mortgage acceleration is the new method of making accelerated mortgage payments.

You can easily slash 13 years off your mortgage and save $63000. And the away you achieve this goal is to use a Home Equity Line of Credit as an accelerated checking account. This accelerated checking account is the secret that slashes years off your mortgage without changing your lifestyle.

In this recession, we are all looking for a risk free alternative. And what better way than investing in your own home.

There is no risk in paying off your mortgage. In fact paying off your mortgage is an investment choice that every homeowner should consider especially in this economy. And compared to stocks and other investments over time the best investment is paying off your home.