One of the most controversial discussions around the dinner table with respect to your personal finances is whether to pay off your mortgage early or invest your money in the stock market. If you do end up paying off your mortgage early you could end up with a home but with less cash in retirement.
Maybe you thinking you have to sacrifice your investments to pay off your mortgage early.
Well if you had those thoughts and similar discussions with someone in the past is not your fault. We are led to believe that in order to pay off our mortgage we need to sacrifice our cash or investments. I will reveal to you the steps so that it does not have to be that way.
The key question to ask yourself to pay off your mortgage early is whether you can afford the mortgage.
I'm not referring to whether you can afford to make the monthly mortgage payments, but I am asking whether you can afford to pay almost double the interest over the life of your mortgage. For example if you borrow $200,000 in mortgage principal, you can end up spending over hundred thousand dollars over 30 years.
By paying off your mortgage early you can save thousands and slash years off your mortgage payment. Think back for a moment in time when you had massive credit card debt. Let's assume you made a big purchase and you owed over $2000 in credit card debt.
And now think back to when you've actually paid off the credit card and settled it in full. Can you remember that amazing feeling of being debt free and keeping the cash for yourself rather than paying debt.
Now how you would feel if you paid off your mortgage. Imagine using the extra cash every month to contribute more toward the retirement savings, pay for your kids education or never having to worry about losing your home in the event of a financial emergency. How would that change your life?
The biggest stumbling block I see that prevents you from paying off your mortgage early is that you may believe that you have to spend more or change your lifestyle in order to accomplish this goal.
They are traditional ways such as paying extra principal towards your mortgage or using the biweekly mortgage program to pay off your mortgage early. But these methods require that you pay extra in order to pay off your mortgage early and save thousands of dollars.
Though these methods work, there is a better way to pay off your mortgage early.
The first method has been around for over 10 years but very few people use this or know of its power.
This method is referred to as mortgage acceleration. Mortgage acceleration is a simple method to pay off your mortgage early by using a home equity line of credit as a checking account.
The home equity line of credit allows you to borrow money at a low interest rate which you would use to pay off your mortgage at a higher rate of interest. All you have to do is deposit your paycheck and pay your bills at the end of every month directly from the heloc.
That's it. By using the simple technique of mortgage acceleration you can slash at least 13 years of your mortgage and save $45,000, and in the process pay off your mortgage early.
And you never have to argue about whether to pay off your mortgage or invest in the stock market. As a financial investor you can do both.
In order to pay off your mortgage early, simply enter your information in the pay off mortgage calculator and within 30 seconds this will reveal how much you can save and how many years you can slash off your mortgage. And while you are there you can download the mortgage payoff guide and you will access to the insider techniques to get you started today.
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