Yes, You Can! Now there are fantastic new programs available that help you pay off your mortgage in 8 years or less without paying more than you are paying now and without altering your life style.
These are not a bi-weekly programs. The programs are set up using a system that is tailored for each individual consumer by using sophisticated software. You load your income and payment information into the system and the program tells you exactly what to pay and when to pay it. You can change the variables and work out "if-then" scenarios. The question is not "Can I really do this?" The question you need to ask yourself is, "What will I do with this extra money each month after my house is paid off?" Travel? Retirement? Investments? New Car? College Education? Rental Properties? Vacations?
How do these programs work? Well, the software considers the balance and limits on your existing home equity line of credit account or one that you set up yourself through a your local bank for this purpose. It also takes into account your monthly income and expense. These are all variables you input into the software. Your home equity line is used to offset or cancel out mortgage interest. The software utilizes highly complex mathematical formulas to help you achieve your lifetime goals. There are a few different software programs on the market today and many companies selling different systems. Some companies require you to set up an account with them and others do not. All of the programs are alike but also different. They are alike in they are designed to accelerate your mortgage pay off. They are different with their approaches and costs to get you there. The old adage, "Different strokes for different folks" has never been more applicable than with these mortgage acceleration programs.
These programs originated in Australia and Australians have been taking advantage of it for years. They have been canceling out their interest simply by depositing their pay checks into their home equity line of credit. In Australia, the banking system is different than in the U.S. making the Australian system hard to duplicate in the U.S. Now with the software and the home equity line of credit, Americans can duplicate what the Australians have been doing for years.
These programs can be used as excellent tools for those who want to take charge of their finances. Now with technology, Americans are becoming their own arbitrages. This system does not work with all home equity lines of credit the same, so be careful in setting up the home equity line of credit account that is right for you.
For information on the above programs, call Bill Burress, Nationwide Mortgage Expert offers 27 years of mortgage experience. You may contact Bill Burress, North America Mortgage Manager at Toll Free 1-800-239-1416. or fill out the 30 Second Inquiry Form You can also view an NBC news segment regarding one of these amazing methods of mortgage acceleration. NBC NEWS Segment Video
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