Mortgage Accelerators (Fact Or Fiction)
Mortgage Accelators have been around for years, and most people have heard of them in one form or another. Years ago, the most people’s idea of a mortgage accelerator was simply the idea of making an extra payment on your mortgage or adding extra money every month to pay down the principal. Those simple ideas have turned into many different techniques used to payoff mortgages faster.
Extra Payments - This is the easiest type of mortgage acceleration to implement, because it basically involves either making an extra payment whenever you can (using that Annual Bonus for example) or sending in an extra amount with your monthly payment that goes directly towards principal.
There are also many Advanced Techniques that involve using more complicated plans to payoff your mortgage faster. Although these techniques are more complicated, and usually require an investment into the program, they are also much better vehicles for paying off your mortgage quickly and saving tens of thousands of even hundreds of thousands of dollars in mortgage interest.
Although these types of plans are new to the United States, they have been used overseas for years and by a lot of people. In Australia for example, over 30% of people use a mortgage accelerator, and in the UK almost 25% use them.
The basic idea of these advanced products are to pay a big portion of money towards your mortgage using either money you currently have elsewhere, or using a line of credit, such as a home equity line of credit or HELOC. Some of these include Mortgage Accelerator Plus, CMG Financial, and United First Financial.
Mortgage Accelerator PLUS is a money management STRATEGY that teaches smart and efficient money management, with the goal of eliminating all debts, especially mortgage debt, in 1/3 the time. It is a ‘turn key package’ that includes a workbook, instructions, and software that teaches ALL the particulars of using the program, HOW it works and WHY it works.
MAP is based on mathematics and allows you to manage your money to minimize interest. You will be using the same techniques that banks have been using to keep more of your money! MAP also teaches you about Real Estate, Mortgages, Investments, Budgeting, and much more.
Learn more at http://www.mapsavings.com/
By: JohnRobertson
Article Directory: http://www.articledashboard.com
Jamie is a member of MAP and his website is www.mapsavings.com
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