How would you like to pay off your mortgage early? Although it may sound difficult, it is possible to pay off your 30 year mortgage in 10 years or less by following a few simple steps. Paying off your mortgage could mean hundreds of extra dollars in your pocket each month. Here are 5 steps to pay off your mortgage faster.
1. Don't charge on your credit cards!
One of the first steps to getting out of debt is to avoid using your credit cards. You can't get out of debt and pay off your mortgage if you keep using your credit cards. When you go shopping, keep them at home. This will remove the temptation to use them and run up more debt.
2. Cut back and live within your means.
Start paying cash. Find ways to save money by reducing your monthly expenses. See if you can find a certain amount in your budget each month to start paying down on your debts. For example, maybe you could find a better deal on car insurance and apply that savings to paying off debt. How about using coupons at the grocery store and saving 10% on your bill each time? Little savings here and there can really add up. How much is not having a house payment worth to you?
3. After you have figured out how much extra money you can save each month, start applying these savings to paying down debt.
Remember that this is a process that could take a little time. You could discover some ways to save money next week, and then find a new way next week. It will really pay off when you no longer have to shell out big bucks for a house payment each month.
4. Here's how to apply the extra money you find towards your debts.
Begin by paying off your credit cards. Focus on paying off one credit card at a time. Focus all of your efforts on that one card until it's completely gone! Once your first credit card has been paid off, then focus on your next one.
After paying off all of your credit cards, start attacking your car payments. At this point, you should have quite a bit of extra money coming in each month since you have paid off your credit cards. Use this money to pay down your car loan.
5. Now that you no longer have car payments, start on your house.
Next, you'll pay off your mortgage. Just take the money that you were wasting on your credit card and car payments and use it to pay off your mortgage.
By focusing on these steps, you can have your 30 year mortgage paid off in 10 years or less! Now, how much extra money would you have this month if you didn't have any credit card payments, car payments, or a house payment? Use this proven system and find out!
Pay Off 30 Year Mortgage in 10 Years - Discover our #1 debt elimination couse that has helped many people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Showing posts with label pay mortgage off. Show all posts
Showing posts with label pay mortgage off. Show all posts
Wednesday, October 21, 2009
Tuesday, October 13, 2009
Should I Pay Off My Mortgage? - The Truth
Most people know that getting a mortgage is one of the biggest expenses in life. Recently, some people have been asking the question, "Should I pay off my mortgage?" or "Is it smart to pay off your mortgage?" Read on to discover the truth to these questions.
First let's talk about interest rates. Many people wonder if they should pay off their mortgage if they have a low interest rate. For example, they may have a 6% interest rate on their house and have been told that it's not smart to pay it off.
The truth is that nobody has a 6% interest rate. If you don't believe me, just look at your mortgage statement. Notice how the principal is really small and the interest is really big? Notice how 85% to 90% of your house payment goes to profit for the bank? The mortgage company always collects their profit up front for the first few years of the loan. So it's not really a 6% interest rate unless you pay it off during the first year! Now who does that?
Second, let's talk about a common myth - the mortgage tax deduction. How you ever heard someone say, "Don't give up your mortgae. It's the last best tax deduction that you have!" You know what? It's a lie.
Yes your mortgage is a tax deduction. But here's the truth - you're going to pay about 3 times the price of your house during the time you're in debt for 30 years.
Also, let's say that you're in the 30% tax bracket. Well, that means that the government is going to give you 30 cents for every $1 that you pay in interest. Wow! Does that sound like a good deal? To give the banks $1 and you get 30 cents back? That's what this so-called great "tax deduction" is about. If someone thinks that trading $1 for 30 cents is a good deal, then they need to have their head examined!
Also, here something that you may not know. Do you realize that the average person moves once every 7 years? Remember how the banks always collect their interest (profit) upfront before you actually start paying down your loan? This means that if you move once every 7 years, then you'll always be at the beginning part of a home loan paying 90% interest! This causes most people to have very little equity in their home when they decide to move because they have given most of their money to the bank!
Here's another little known fact. The word "mortgage" comes from the Latin word mortuus which means "death." The word "gage" means to pledge or grip. So you can see that the word mortgage really means "death grip!" There's no question that a mortgage is a long term burden that most people would be better without.
Paying off a mortgage is about more than just numbers and figures. It's about the choice of freedom. Freedom from all debt payments. What would your life be like if you had no mortgage payment, car payments, or credit card payments? How much better off would you be? Could you make some different choices in your life? Maybe you could stop going to the job you hate because "it pays the bills" and do something else instead.
You see, being debt free is really about taking back control of your life! So the answer to the questions, "Should I pay off my mortgage" and "Is it smart to pay off my mortgage?" are a loud "YES!" As fast as you can.
Should I Pay Off Mortgage? - Discover how to pay off your 30 year mortgage in 10 years or less.
Sign up for the #1 debt elimination course that has helped many people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can your family afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
First let's talk about interest rates. Many people wonder if they should pay off their mortgage if they have a low interest rate. For example, they may have a 6% interest rate on their house and have been told that it's not smart to pay it off.
The truth is that nobody has a 6% interest rate. If you don't believe me, just look at your mortgage statement. Notice how the principal is really small and the interest is really big? Notice how 85% to 90% of your house payment goes to profit for the bank? The mortgage company always collects their profit up front for the first few years of the loan. So it's not really a 6% interest rate unless you pay it off during the first year! Now who does that?
Second, let's talk about a common myth - the mortgage tax deduction. How you ever heard someone say, "Don't give up your mortgae. It's the last best tax deduction that you have!" You know what? It's a lie.
Yes your mortgage is a tax deduction. But here's the truth - you're going to pay about 3 times the price of your house during the time you're in debt for 30 years.
Also, let's say that you're in the 30% tax bracket. Well, that means that the government is going to give you 30 cents for every $1 that you pay in interest. Wow! Does that sound like a good deal? To give the banks $1 and you get 30 cents back? That's what this so-called great "tax deduction" is about. If someone thinks that trading $1 for 30 cents is a good deal, then they need to have their head examined!
Also, here something that you may not know. Do you realize that the average person moves once every 7 years? Remember how the banks always collect their interest (profit) upfront before you actually start paying down your loan? This means that if you move once every 7 years, then you'll always be at the beginning part of a home loan paying 90% interest! This causes most people to have very little equity in their home when they decide to move because they have given most of their money to the bank!
Here's another little known fact. The word "mortgage" comes from the Latin word mortuus which means "death." The word "gage" means to pledge or grip. So you can see that the word mortgage really means "death grip!" There's no question that a mortgage is a long term burden that most people would be better without.
Paying off a mortgage is about more than just numbers and figures. It's about the choice of freedom. Freedom from all debt payments. What would your life be like if you had no mortgage payment, car payments, or credit card payments? How much better off would you be? Could you make some different choices in your life? Maybe you could stop going to the job you hate because "it pays the bills" and do something else instead.
You see, being debt free is really about taking back control of your life! So the answer to the questions, "Should I pay off my mortgage" and "Is it smart to pay off my mortgage?" are a loud "YES!" As fast as you can.
Should I Pay Off Mortgage? - Discover how to pay off your 30 year mortgage in 10 years or less.
Sign up for the #1 debt elimination course that has helped many people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can your family afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Friday, September 25, 2009
Pay Off Mortgage Faster Plan - 5 Ways to Pay Off Your Mortgage Early
Many people would like to pay off their house faster. Having a mortgage in uncertain times is a major cause of stress in life. If this describes you, then try this pay off mortgage faster plan that has helped over many people to a mortgage-free life.
First, you'll need to come up with a monthly amount that you can use to pay down your debts. Start by looking at your expenses and see where you can cut back. If you can't find ways to cut expenses, then can you find a way to earn more money? Either way, you'll need to find some extra money to get the process going.
Second, make a list of all of your debts from smallest to largest. For most people, there debt list will range from credit cards, to car payments, to their mortgage. Usually the mortgage is always last because it's the one that you owe the most on.
Third, let's start attacking your credit cards first. A journey begins with one step. If you take on your big mortgage first, then you may be too tired before you start. Let's start paying off our smaller debts first and build up some momentum.
Fourth, after you've paid off your credit cards, then start paying down your car. By this point, you'll have extra money coming in each month because you'll no longer have monthly credit card payments. Use this extra money to pay off your car.
Fifth, after you've paid off your car, then start going after your mortgage. If you've been paying down a lot of debts at this point, then it's ok to take a break for a month or two. In fact, you may want to celebrate your success by saving up some of this extra money coming in and take a vacation - cash! Just be sure to get back on the plan and attack your mortgage. Use the money that you were wasting on credit cards and car payments to start paying off your house. If you do this right, most people can have all of their debts, including their home, paid for in 5 to 10 years! That sure beats being up to your eyeballs in credit card debt and having a big house payment after 29 years!
There are plenty of resources out there that can help you focus on your goal of becoming debt-free. Reading articles like this one is a great start.
But where can you find the right information to help pay off your mortgage faster?
Pay Off Mortgage Faster - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
First, you'll need to come up with a monthly amount that you can use to pay down your debts. Start by looking at your expenses and see where you can cut back. If you can't find ways to cut expenses, then can you find a way to earn more money? Either way, you'll need to find some extra money to get the process going.
Second, make a list of all of your debts from smallest to largest. For most people, there debt list will range from credit cards, to car payments, to their mortgage. Usually the mortgage is always last because it's the one that you owe the most on.
Third, let's start attacking your credit cards first. A journey begins with one step. If you take on your big mortgage first, then you may be too tired before you start. Let's start paying off our smaller debts first and build up some momentum.
Fourth, after you've paid off your credit cards, then start paying down your car. By this point, you'll have extra money coming in each month because you'll no longer have monthly credit card payments. Use this extra money to pay off your car.
Fifth, after you've paid off your car, then start going after your mortgage. If you've been paying down a lot of debts at this point, then it's ok to take a break for a month or two. In fact, you may want to celebrate your success by saving up some of this extra money coming in and take a vacation - cash! Just be sure to get back on the plan and attack your mortgage. Use the money that you were wasting on credit cards and car payments to start paying off your house. If you do this right, most people can have all of their debts, including their home, paid for in 5 to 10 years! That sure beats being up to your eyeballs in credit card debt and having a big house payment after 29 years!
There are plenty of resources out there that can help you focus on your goal of becoming debt-free. Reading articles like this one is a great start.
But where can you find the right information to help pay off your mortgage faster?
Pay Off Mortgage Faster - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Wednesday, September 23, 2009
Pay Mortgage Off
Do you realize that you'll pay 3 times the value of your house if you have a 30 year mortgage? That's why many people want a pay mortgage off plan to get free. But coming up with the right strategy can seem like one of the toughest things on the planet to do. Here is a plan that I used several years ago to become debt free - it's called the focused payoff method.
Here are the steps to follow:
1. Live without credit cards. Stop digging the hole deeper by charging more debt on your credit card. Use a debit card instead if you feel the need to carry plastic. If it's a true "emergency" see if you can wait 24 hours. It may put things in more perspective for you.
2. Find some extra money to pay off debt. Let's face it. It you're ever going to pay off your mortgage, then you'll have to come up with some extra money. It doesn't have to be much. Just a consistent amount each month to focus on paying off debt. It could be as little as $50 to $500 - it's up to you.
3. Get out a sheet of paper and list your debts from smallest to largest. This is the order in which you'll focus on paying your debts. For most people, they'll list their credit cards, car payments, and then mortgage.
4. Apply the extra money each month to your smallest debt. Just focus on paying off this one first. Some people like to bounce around and pay on one debt and then another. This doesn't get you anywhere but confused. Just focus on paying one debt at a time and see what the power of concentration can do for you. After that one debt has been paid, then focus on paying down the second debt. After that, pay down the third debt and so on.
5. When you get to your mortgage, you should have a large amount of money to pay it down each month. Think about it. What if you had no credit card payments or car payments? How much extra money would you have each month to apply to your mortgage. For most people, it's quite a bit.
By using this focused payoff method, most people can have all of their debts, including their mortgage, paid off in 5 to 10 years. Use this method to pay your mortgage off and start living live the way it was meant to be!
There are plenty of resources out there that can help you focus on your goal of becoming debt-free. Reading articles like this one is a great start.
But where can you find the right information to help get rid of your debts?
Pay Mortgage Off - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
Here are the steps to follow:
1. Live without credit cards. Stop digging the hole deeper by charging more debt on your credit card. Use a debit card instead if you feel the need to carry plastic. If it's a true "emergency" see if you can wait 24 hours. It may put things in more perspective for you.
2. Find some extra money to pay off debt. Let's face it. It you're ever going to pay off your mortgage, then you'll have to come up with some extra money. It doesn't have to be much. Just a consistent amount each month to focus on paying off debt. It could be as little as $50 to $500 - it's up to you.
3. Get out a sheet of paper and list your debts from smallest to largest. This is the order in which you'll focus on paying your debts. For most people, they'll list their credit cards, car payments, and then mortgage.
4. Apply the extra money each month to your smallest debt. Just focus on paying off this one first. Some people like to bounce around and pay on one debt and then another. This doesn't get you anywhere but confused. Just focus on paying one debt at a time and see what the power of concentration can do for you. After that one debt has been paid, then focus on paying down the second debt. After that, pay down the third debt and so on.
5. When you get to your mortgage, you should have a large amount of money to pay it down each month. Think about it. What if you had no credit card payments or car payments? How much extra money would you have each month to apply to your mortgage. For most people, it's quite a bit.
By using this focused payoff method, most people can have all of their debts, including their mortgage, paid off in 5 to 10 years. Use this method to pay your mortgage off and start living live the way it was meant to be!
There are plenty of resources out there that can help you focus on your goal of becoming debt-free. Reading articles like this one is a great start.
But where can you find the right information to help get rid of your debts?
Pay Mortgage Off - Discover the #1 debt elimination course that has helped over 300 people obtain a debt-free, stress-free lifestyle.
(This one resource has helped hundreds of people.)
Can you afford not to have this information?
Visit http://www.debtintowealth.org for immediate access.
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