Christian Debt Recovery

Free Debt Payoff Calculator

February 27th, 2009 |

Author: Gavin

Mortgage Payoff Benefits That The Banks Do Not Want You To Know47

Mortgage Payoff is the ideal investment you can make in your family and home especially in this new and challenging financial environment.

And I am going to reveal why most mortgage payoff strategies are designed to work against you.

Do you consider mortgage payoff and the ability to live debt free as an investment?

And I mean exactly like investing in a stock market or retirement savings account.

Mortgage payoff is an investment. The ability to payoff your debt enables you to save thousands in unnecessary interest costs. And I bet that they have not told you that paying off debt is just an important and investing your money.

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 dont 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.

A $200,000 mortgage will usually cost you over $420,000 in mortgage repayments over a 30 year period. You pay back more than double what you borrowed and most of this money is in mortgage interest rather than principal.

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.

Now that is a true financial investment which your banker and mortgage broker have kept secret from you.

For more tips like these go directly to
Mortgage Payoff Strategies and get your free guide that will reveal the secret steps to implement to sidestep a life long mortgage payment.

And we will share all the Mortgage Payoff Tips and strategies to make this your most memorable event and cut all the stress and anxiety that goes into owing a mortgage.

About the Author

For more tips like these go directly to
Mortgage Payoff Strategies and get your free guide that will reveal the secret steps to implement to sidestep a life long mortgage payment.

And we will share all the Pay Off Mortgage Tips and strategies to make this your most memorable event and cut all the stress and anxiety that goes into owing a mortgage.