|Mortgage Refinance Information|
Money Smart Homeowners Use this Mortgage Strategy Every Time
There are currently more than 50 million home mortgages in the United States today. So why aren't more homeowners taking advantage of the highest yielding lowest risk, tax-free financial strategy available today?
Let me ask you.
Where can you.......
? Forego only $3.35 in tax savings (three dollars and 35 cents)
? Invest $350 over the course of 12 months ( three hundred and fifty dollars)
? Get a return of $3,300! (That's Three thousand three hundred dollars)
$3300 for $353.35?
It's certainly not the stock market, pork bellies or even currency trading. These vehicles are all highly leveraged high risk speculations in which the vast majority of the participants lose money, Lots of money.
So what is this low risk high return tax-free strategy?
Well, it's right in front of your nose. In fact this is so close to home that you may have never even realized the life altering benefits you can achieve.
It's called The Bankers Secret otherwise known as equity acceleration or mortgage principal pre-payment
Several years ago author Mark Eisenson wrote the best selling book titled The Bankers Secret which effectively blew the lid off of what most bankers were all too happy not to talk about. The strategy of pre-paying mortgage principal in order to accelerate equity gain.
It's no wonder they weren't talking. In our example above simply by paying an extra $350.00 on your mortgage in one years time $3300.00 in future interest is saved. Thats quite a savings, wouldn't you agree?
Years ago you could only learn of this by having a banker as a relative or by attending an expensive seminar.
Just imagine how much interest you will save while at the same time substantially cutting down the number of years it will take to pay off the mortgage.
But it gets even easier. Pay your mortgage on a bi-weekly basis (perfectly legal) and you will be astounded at the number of years you can shorten the mortgage while hardly noticing the change at all. This is the perfect strategy for those who feel they just can't afford to pre-pay a mortgage. Truth be known you really can't afford to miss this opportunity.
Since the publishing of The Bankers Secret many have embraced this deceptively simple and incredibly safe wealth building strategy. You may even have read the book and be familiar with the strategy. So the question begging to be asked is......
Why aren't you doing this?
There are several reasons most people don't begin an equity acceleration program but when you really analyze these you come to know that they're really not reasons at all, they're actually misconceptions.
See if any of these "reasons" sound like yours.....
? It sounds too good to be true
? I can't afford to pre-pay
? I'll lose my biggest tax deduction
? My banker will resent me if I pre-pay
? My banker will subtract my pre-payments from the back end of my loan
? I can get a better return on my money some place else
While many people use these as reasons not to get started the undiluted truth is that all these "reasons" are 100% false!
You can do this.
Start an equity acceleration program today and you will be years ahead of your friends at your very first mortgage burning party..
Remember this: When there is nothing to lose by trying and everything to gain then by all means try!
Randall Madon is a business owner who is also a Homeowner. He uses a totally free equity accelerator software program. You can use it too. Download your free copy at http://mortgagesavers.has.it
W. Edwards Deming said "Marketing and innovation are the only source of value in business, everything else is a cost". And he was right.
Revive Mortgage Tenure With Extend Loan Term Remortgage
You are comfortably wedged in a mortgage deal, paying the standard rate of interests year after year. You are most in all probability paying more than required and you don't even know it. You must have heard of remortgage but shunned it as a precarious option against your traditional mortgage. Perhaps your mortgage needs a health check. The mortgage which was working for you earlier may not be as beneficial in the present context. You must have read more than often that interest rates are at an historical low. For once take them seriously before they start to steep up again.
Bad Credit History? How Financing and Buying a Home Can Help You Improve Your Financial Situation
Financing and buying a home can help improve your financial situations, especially if you have a bad credit history. Adding a mortgage payment to your monthly expenses seems like a mistake if you are having financial difficulties, but in the long run a mortgage can save you money on your living expenses.
Understanding Mortgage Points
When a mortgage broker asks a borrower to pay points, he or she is asking for a lending fee expressed as a percentage of the value of the loan. For example, two points on a deal worth $100,000 works out to $2,000.
Home Equity Loans
A home equity loan allows you to cash-in on the equity you have built-up in your home. The funds you receive can be used for debt consolidation, home improvement, college education, investments or any purpose. With a home equity loan your home is used as collateral to secure the loan. If you default on the payment you can lose your home so it is important to insure that you can afford to take out the loan before you sign on the dotted line!
Refinance Benefits - Refinancing Could Save You Money
The most common reason most people refinance is to save money, but many people refinance for various other reasons.
Know Your Mortgage Fees, and Youll Never Pay Too Much for Your Loan
If you buy new windows, you'll not only pay for the windows, you will also pay an installation fee. When you purchase a car, you pay tax, title, assumption fee, etc. Just about every major purchase comes with extra costs or fees, and home loans are no different. Most people think they don't have to pay costs on a loan, because they are paying interest on the loan (they figure this is their fee ? a premium on the money). A mortgage, however, does not come free.
Mortgage Reduction Solutions
USA ECONOMIC CONDITIONS
How to Save Money by Using an Independent Commercial Mortgage Broker
Being a creature of habit can cost you plenty when it comes to applying for a commercial mortgage instead of going through an independent commercial mortgage broker. Let me tell you why.
Alternative Options For Rising Interest Rates
As interest rates have risen in the last six weeks from record lows, homeowners are once again face with finding viable options to reduce the amount of interest paid on their home loans. The rush to refinance provided borrowers with good to excellent credit the opportunity to take advantage of low interest rates, that helped to reduce their monthly mortgage payments, which was the only benefit provided by the lowered rates.
Escrow Accounts, Do You Absolutely Need One?
With escrow accounts the money for your home insurance and property tax is added to your monthly mortgage payment and is paid out each year. With that said, you may think that having an escrow account takes the responsibility off your shoulders because the bank will make the payment for you each year from your escrow savings account. But beware, because many people have found that their property tax and home insurance have not been paid on time or at all!
Home Equity Loans in Texas
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Reverse Mortgages: Information You Need to Know
Reverse Mortgages are exploding in popularity and as the baby boomers reach age 62 and beyond they will become eligible to cash in on their home equity with a reverse mortgage.
Home Buyer Beware ? Know the Signs of Real Estate Market Trouble
Lots of articles have appeared recently about the booming real estate market in the United States. Home prices, especially on the East and West coasts, are not only at record levels, but are increasing at record rates. In some areas around Washington, D.C. and San Francisco, home prices have tripled in the last five years. While many homeowners have been enjoying huge increases in their equity, realized when they either sell their home or borrow against it, the market has become increasingly difficult for those trying to buy homes. It may get worse, as there are now some strong signs that the market may be near its peak:
Seniors Can Use a Reverse Mortgage to Fund Annuities, Investments, and Insurance Policies
For many seniors in or entering retirement, the prospect of purchasing long-term care, investments or annuities can be cut short by a lack of retirement income. Statistics show that 3 out 4 seniors will have to lower their current standard of living during retirement. Social Security, IRA's, 401k's, and other methods of retirement income usually provide enough income for living expenses and recreational activities, but do not leave much room to improve your financial future. A Reverse Mortgage is an increasingly popular solution for increasing income, and large amount of tax-free funds to safely move into investments and securities.
Sell Your Home and Invest at the Same Time
I continue to see the same For Sale signs in my neighborhood. The houses just aren't selling. If you are considering selling or have a home on the market that is not moving, it's time to think about financing the sale yourself. A good friend of mine bought a new home three months ago, and he has watched his old house sit unsold, while he's struggled paying two mortgages. I finally convinced him to get past his fears and finance the sale of his old home.
5 Steps to Getting on Top of your Mortgage
Getting on top of your mortgage so you can pay your loan off faster and potentially save thousands of dollars on your home loan is possible with a plan and consistent effort. There are mortgage reduction strategies that you can put into place that will ensure that your loan is paid off more quickly without putting a huge strain on your current budget. The following tips are designed to help you pay off your mortgage as quickly as possible.
Bad Credit? Qualify Yourself For A Zero Down Mortgage Loan
I decided to write this article today after closing a home purchase loan for a couple that had some major credit issues. They got into the house with ZERO down payment, and only had to bring $600 for the closing costs. Their situation was pretty bad, I'm talking about a bankruptcy 2 years ago, thousands of dollars in outstanding collections, charge-offs and debt to income ratio of 49%. By the way, we left all of their outstanding charge-offs and collections open which means they didn't have to pay any of them off! So many think they won't be able to qualify for a mortgage loan. Many will keep thinking they can't qualify until they read this article.
Construction Loan Basics
It might not be too big of an exaggeration to say that the construction loan is one of the more daunting aspects of building your custom home. Before we started our project, I had nightmares about trying to pay two full mortgages at the same time (our existing mortgage and the construction loan), and I didn't see how it was at all possible. However, the reality ended up much more reasonable than I dared hope.
Types of Financing for Your Mortgage
When financing a home purchase, the kind of mortgage you choose determines your monthly payment and the interest rate you get on your loan. There are four main ways of financing the mortgage for your home: 30-year fixed rate, 15-year fixed rate, adjustable rate, and interest only. Each of these mortgage financing options has its pros and cons, your credit union can help you find the right financing for your situation.
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