The 21st Century Way To Build Equity – Mortgage
The 21st Century Way To Build Equity
B F Boggan
Here to stay and firmly established in the U.S. mortgage market, biweekly mortgage payments are gaining momentum. First introduced into the U.S. in the early 1980s by several small Northeastern Banks, the idea of biweekly mortgages has its origins in Canada.
This concept soon became the popular choice nationally within less than a decade after its arrival placing the biweekly payment plan in the forefront of Canadas mortgage industry around 1972 for several good reasons. Consider the following:
1. Most people are paid weekly or biweekly, therefore, it is reasonable to have as an option "biweekly mortgage payments".
2. On a biweekly mortgage payment schedule, one half of a loans monthly payment is made and credited to the account holder every two weeks. This is equivalent to making 13 monthly payments instead of the usual 12 monthly payments reducing the loans payoff time.
3. Faster accumulation of equity build up of up to 300%, plus a reduction in interest owed on the loan due to your prepayment is the result of using a biweekly payment schedule; thats without any increase to your monthly output. In other words, youll get more value per dollar and save thousands as well; as much as 25% to 30% in interest over the life of the loan.
Combine the benefits of a biweekly payment schedule with a union between an Electronic Funds Transfer EFT mode of account servicing that is governed by Regulation "E" of the Federal Reserve to a plug into the internet and you will find a super-efficient, safe, consumer-friendly method of paying a monthly obligation that wont take a huge bite from one paycheck. It doesnt take nuclear physicists to understand why this type of arrangement is frequently referred to as the "Common Sense Mortgage".
Now that theres breathing room because money has been "freed-up" and also saved by using a service such as this, go on an excursion for some sunshine, sand and surf, have dinner at a five-star restaurant, or better still, invest in your financial future. Its your money. Once youve tried this equity acceleration program EAP for yourself, youll realize its value.
With more available choices, creating enjoyable lifestyles and looking out for your familys financial well being is easier today than it ever has been. The bad news is that time is not on you side with a standard monthly mortgage payment on a 30 year loan. As a matter of fact, you are not getting the most for your money. The good news is that help is here; the technology does exists giving consumers unparalleled conveniences plus an advantaged boost.
Welcome to the 21st Century.
About The Author
Better Business Bureau BBB member, Bridgeco Central BCC is a distributor and national service provider in the U.S. of the on-line resource the Mortgage Manager Hi-Tech Mortgage Payment Service. To obtain an application to apply for the biweekly payment service at no cost visit http://www.eMortgageManager.net. A password-protected mortgage-auditing program is also included at no cost to the consumer after 6 months of using the service.
Build Your Business by Building Relationships – Marketing
Build Your Business by Building Relationships
Charlotte Farrior
People do business with people that they know and trust. As a solo entrepreneur, your goals will be to make yourself known to your target market and then elevate the relationship to the trust level. This process of building relationships can take many forms. Take a few minutes to review what is working for you in this area. Then consider these ideas to add to your relationship building toolkit.
30 Second Introduction
Have you upgraded your 30 second introduction lately If you haven
5 Easy Ways to Save and Build Wealth – Mortgage
5 Easy Ways to Save and Build Wealth
Cindy Morus
1. Pay off high-cost debt. The best investment most borrowers can make is to pay off consumer debt with double-digit interest rates. For example, if you have a $3,000 credit card balance at 19.8%, and you pay the required minimum balance of 2% of the balance or $15, whichever is greater, it will take 39 years to pay off the loan. And you will pay more than $10,000 in interest charges.
2. Buy a home and pay off the mortgage before you retire. The largest asset of most middle-income families is their home equity. Once these families have made their last mortgage payment, they have far lower housing expenses. They also have an asset that can be borrowed on in emergencies or converted into cash through sale of the home.
3. Participate in a work-related retirement program. Many employees turn down free money from their employer by not signing up for a work-related retirement program such as a 401k plan. If they did participate, with a dollar-for-dollar match they would likely receive an annual yield of greater than 100% on their investment.
4. Outside of work, save monthly through an automatic transfer from checking to savings. These savings will provide funds for emergencies, home purchase, school tuition, or even retirement. Almost all banking institutions will, on request, automatically transfer funds monthly from your checking account to a savings account, U.S. Savings Bond, or stock mutual fund. What you dont see, you will probably not miss.
5. Calculate your risk and return. If you earn 4% interest, your money will double in less than 15 years; at 7% it will double in about 10 years and at 10% it will double in 7%. Use Asset Allocation to reduce your overall risk.
About The Author
Cindy S. Morus www.phelps-creek.com is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer and Get Clients NOW!