Mortgage Reduction strategies are the very best way to eradicate your mortgage in less than 10 years and save a large number of dollars in unnecessary interest every month.
The economy has been cruel to your financial lifestyle. Like most hard working families your retirement nest egg is slashed and you almost certainly lost about 30% of the equity in your home. Your financial savings have already been stolen from you because of the greed on wall street.
We are all searching around for the best financial advice in this market. And in times of crisis it is definitely an excellent strategy to get back to the basics.
What is the best financial method in this market?
Mortgage Reduction techniques when applied the right way is a key financial weapon for just about any homeowner in this market.
If we take a consider the stock market, it is still bouncing around and reeling from the aftershock. Except for continuing to buy your 401 k it does not seem sensible to purchase the market. Could you afford to take another massive hit to your retirement savings again within the next year?
So the following best financial strategy is mortgage reduction.
And now you're probably wondering why mortgage reduction. And as you hear this term you may well be thinking the best way to cut back your mortgage or pay it off might be to pay extra, prepay your mortgage or even use the bi-weekly system.
And you won't be wrong. You see everyone we know from our mortgage brokers to bankers have told us this is the only way. But there is an improved way to make mortgage reduction a reality.
And the best part if there isn't to change your lifestyle or spend a dollar more.
This is how this simple technique works
That is called the mortgage checking account technique to lessen your mortgage.
And the trick tool behind mortgage reduction system is to use a Home Equity Line of Credit (HELOC).
Now here is the fun part.
The HELOC can be converted into a checking account. You can convert this so you can deposit your paycheck, pay your bills and make online electronic payments.
With the HELOC as a checking account you automatically use the power of interest leverage and you can convert your 5.5% rate to a 2.5% rate. And by continuously using your HELOC every month you are able to slash years of your mortgage and achieve financial freedom.
This is actually the bottom line. You are able to slash almost 13 years of your overall mortgage and save thousands of dollars. Imagine what that may do for the finances and nest egg.
This one simple technique alone can allow you to restore equity at home and take on the path towards being debt free for life.