Most people when asked would like to find a way to pay their mortgage early. Here are some tips that may help you pay off your mortgage earlier than planned.

When getting a new mortgage

Before deciding on a 15 year mortgage consider a 30 year term instead. If you are comfortable making the monthly payment on a 15 year mortgage, then pay that amount but on the 30 year mortgage. Ok I’ll explain. Let’s say you have a 30 year mortgage for $200,000 and the monthly payment is $1,074 at 5% interest rate. However your payment on a 15 year mortgage would be $1,582 also at 5% then $508 a month would be going to principal. Wow, that’s powerful.

To put that into perspective

The Secret Banker’s Rule is such. For every $1 you put towards your mortgage the bank gets $10 if your interest rate is at 5%. When paid before it’s due (i.e. extra principal payment) this gets turned around, reverse compounding. Now you would get the $10 and the bank would get $1. Let’s take this a little further. The $508 a month equals $5,080 in interest savings. In other words, money you don’t have to pay

Paying twice a month

Did you know that by paying twice a month or bi-weekly you actually create one whole extra payment a year.
If you think about it, there are 52 weeks in a year divide into 2 that’s 26 bi-weekly payments which amounts to 13 months. Does this make sense?
This will definitely remove about 6 years off a 30 year mortgage. Also making bi-weekly payments may be easier to cut off your budget as oppose to paying one lump sum to create that one extra payment a year.
The downside to this method is most lenders charge a fee for allowing this payment service, but the fee is nothing if you think of the bigger savings in the long run.
Another way to do it is simply put half of the payment into a savings account every 2 weeks and then make your monthly payment. This will create a whole extra payment at the end of the year.

Add extra payment

Instead of the usual fixed amount paid for monthly try adding an extra principal payment. A certain percentage of the monthly payment when paid extra will work almost the same as doing a bi-weekly payment without paying for the extra fees added by lenders.

Pay in advance

As you can see by the sample above that it’s a huge interest savings when paid in advance.
Knowing that you may want to put whatever little extra money you get as a commission or bonuses towards your mortgage. Now if you would like to find out how you can have the extra money going towards your mortgage without coming out of your pocket you may want to attend our free seminar called Equity Acceleration Program offered by JCC Alliance network.

Attend one of our free webinars

In the past few years I have seen a lot of people jumping from one MLM (networking company) to another selling vitamins, juices, insurance, phones, jewelry etc. They are always looking for the “perfect” product. A common name for people like that is “MLM Junkees”

JCC alliance has a solution for that. It’s considered a “one-stop-networking”.  Through a BRILLIANT COMPENSATION PLAN, HUGE EXPANDING MARKET, RIGHT TIMING, UNIQUE PRODUCTS and MAXIMUM LEVERAGE JCC Alliance will always have what the market needs.

JCC Alliance’s Flagship program “EQUITY ACCELERATION PROGRAM” offers mentoring, training and coaching with benefits in “The Premier Bonus Club” and a matrix position to accelerate the pay-off of a mortgage, credit card, commercial loans, student loans, car loans and other debt in half the time or FASTER using EASY Points which are like rewards points. When earned, EASY Points go directly to lender for principal reduction resulting in interest savings. This program is a 5 year program.

There are 3 different options to choose from in the EQUITY ACCELERATION PROGRAM.

Option A is for people that have a debt like a 30 year mortgage (or any debt) and would like to pay it off much faster (could be 5 years or less) using EASY Points and with ZERO Net Cost. 

Option B is for Debt Restructuring of unsecured debt like credit cards and some student loans.

Option B also offers Debt Restructuring for secured mortgage through a program called HEAVEN (Home Equity Acceleration Velocity Enrichment). This program is for owner occupied and investment properties up to 4 units which are “upside down” meaning the loan amount is bigger than the value of the property. Home owners are in default and facing hardship. It’s the best alternative to loan modification and a great solution to a foreclosure.

Option C is for Product Enrollment. “My Wealth Software” is one of the options.  There are other qualifying  products like “Fine Jewelry” where people can pick from 12 pieces of jewelry, enroll a loan and get a spot in the “Premier Bonus Club” and get it rebated after the 5 years resulting in ZERO Net cost.

Find out how you can benefit from this powerful program. Attend a webinar (click on “Upcoming Webinars”) to find out when the next one is or call me to find out if there are live presentations in your area.

Swanee Heidberg
925 895 2940