Mortgage Payoff: The Benefits Banks Don't Want You TO Know About
Building The Equity Back In Your Home:
Mortgage Payoff is considered a risk free investment especially in this marketplace. And I will reveal how to accomplish this goal without changing your lifestyle.
And I am going to reveal why most mortgage payoff strategies are designed to work against you.
Let me ask you a question. Does your financial advisor or banker consider mortgage payoff to be part of your overall retirement and savings plan.
Yes, an investment just like you would invest in a retirement plan like a 401k, Roth IRA, and other types of mutual funds.
Most of us have seen all the ads, listened to good advice from friends, family and even our financial advisors and you may even read some good books on the subject but very few of them and I will be bold to say 99% of them really look as mortgage payoff as an investment.
It is not your fault you have not paid off your mortgage by now, because you are taught from an early age that you need to invest more to get rid of the monthly mortgage payments and finally payoff that mortgage.
And here is what else you believe. That it is hard to eventually payoff your mortgage because we have to sacrifice our lifestyle and give up things that we enjoy in order to have no more mortgage payments.
I was talking to my best friend the other day and asked him, how many ways he knows to payoff his mortgage. And he kind of rattled off the following.
Pay extra from your paycheck, use biweekly program which in effect is to pay extra and finally make prepayments either at closing or during the life of the mortgage.
Here is the good news. Even if you don’t pay extra every single month you can still payoff your mortgage earlier and live debt free.
Now I am not saying that you should not contribute to your retirement savings or 401k. You should always do that. But mortgage payoff is also an investment just like savings and should be part of your retirement savings plan.
Lets take a mortgage of $200,000. Over the life of the mortgage we could pay $420,000 in interest and principal. More than double what we borrow and not to mention it would take 30 years of your hard earned cash each month to repay that mortgage. And if you refinanced along the way, you could end up with a mortgage payment long into your retirement.
Do you know that you have to earn at least $1700 before tax in retirement savings to pay for a $1200 mortgage? Your mortgage payment in retirement just went up.
Now this is the best part. Without changing your lifestyle or your mortgage payment, using a system called mortgage acceleration you can payoff your mortgage 13 years faster saving over $63000. And all of this is done with a simple mortgage checking account.
This is the financial secret that is deliberately hidden from you.
But don’t take my word for it. To achieve the dream of mortgage payoff go directly to mortgage payoff accelerator and enter the details in this free calculator and see what this can do for your situation. And while you are there, download your complimentary guide with the insider tips to help you get started with your goal of early mortgage payoff.
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