What is the key for this to work?

The key to paying off your mortgage fast is bringing in more money that you are spending.

Logically anyone knows that if they were to put the cash that is left over each month toward their mortgage, they will pay it off faster.

However what most don't know is how fast. I found out that on a $200,000 mortgage if you were to pay your monthly payment, and then put an extra $5000 to it THIS MONTH. You would save over $24,000 in interest payments over 30 years.

The problem is that most people (including me) don't have an extra $5000 to just put toward their mortgage.

Enter the Mortgage Checking Account. If you open a line of credit, say for $20. You should now not only have enough to cover your bills each month, but some extra money as well.

So say your bills are $4500 but your paycheck is $5000 each month.

If you paid your bills out of your line of credit and the softward told you to put another $5000 towards your mortgage, your balance would be $9500 in your line of credit.

But then you deposit your paycheck against the balance leaving you with a $4500 balance at the end of the month, but also a $195,000 balance on your mortgage.

Then over the next few months the software would tell you to do nothing until you've paid the balance down on the line of credit.

Then the software would prompt you again to take another sum of money from the line and put it toward your mortgage..cancalling out another large amount of interest on your mortgage.

And so it goes... over time your balance on your line of credit stays small, and your mortgage balance goes WAY down.

At the end your Line of credit is completley paid off.

Some questions are:

1. Won't I have to pay interest on my line of credit.
Yes.. however this interest is largely cancelled out becauase you are putting your whole paycheck toward the balance each month making the average effective interest rate around 1%
2. How does this keep the balance low on the line of credit?
Answer: because of the extra income you have left over each month pays off excess over and above your bills.
3. Why do I need software to do this?
Because the software tells you the BEST time and the PERFECT amount of money to take from your line of credit and put it toward your Mortgage. If you try to do it yourself, it will most likely take longer and not save you as much money.


As I said in my last post, I've been using Sydney Financial Groups Mortgage Checking Account. You can contact them through this site:

Sydney Financial "Mortgage Miracle" site.

Mortgage Checking Account

OK so hear I am.

I got my mortgage 2 years ago and it's a 30 year mortgage with a 6.0 fixed interest rate. With the way the economy is going I decided that I need to get this mortgage paid off fast.

I've heard a lot about the new ways to pay off your mortgage fast. Here are the options:

1. Pay extra each month on your mortgage payment
2. Bi-weekly payments
3. Do a debt roll-down and then snowball the extra cash into your mortgage
4. Use the new "HLOC" or Australian Mortgage system.

With option #1, I'm like most people where I just don't have a ton of extra cash to be putting toward my mortgage each month.

I found out that option #2 will only shave a few years off my mortgage. And I'm wanted to really get rid of this mortgage fast.

Option #3 is kind of like option #2 in how fast it will pay my mortgage off, and kind of like option #1 in that I would have to change my spending in a dramatic way.

So then I came across option #4. You have probably heard about these types of systems. There has been a lot of skepticism about them because they require a dramatic new way of thinking.

I'll try to explain it here quickly.

First you get a HLOC (home equity Line of Credit) or some other kind of line of credit.

Then you buy some software. (Most run about $3500)

Then, you use these two tools to turn the tables on the banks.

Just how do you do that?

Well first let me review with you what the banks are doing to you...

1. We deposit our paycheck into a checking account and don't earn any interest on it.
The bank gets to use our money interest free.

2. We pay interest on our mortgage 24/7/365.

When you look at it that way, you can see that the banks of conditioned us to make the odds of success highly in their favor.

Incomes the "Mortgage Checking Account"

This was designed in Australia and has proven itself over 20 years or so to work.

Simply put, they turn the tables on the banks.

1. Instead of paying your bills out of your checking account you pay your bills out of your line of credit.
2. Instead of depositing your check into a checking account you deposit it against the balance of your Line of credit.
3. The software helps you keep the balance low in your line of credit while telling you the perfect time to reposition money from the line to pay off your mortgage.

Doing this actually CANCELS out interest you would normally pay on your mortgage.
The average person will pay off their mortgage in 7-10 years.

After wrapping my head around this concept I decided to try it. This blog is going to detail how well it's working for me.

So far I've created and extra 10k in equity in my home in just 8 months. And canceled out over $40k in interest I would have paid, had I just made the regular payment.

Now there are quite a few companies offering this system now, so I had to do some big time research to figure out which one was the best.

There are even some Pyramid scheme companies that are selling this system.

After everything I found Sydney Financial Group. What I liked most about them is that there wasn't any Multi-Level Marketing involved and they were straight forward and honest. What was even better is that their system went well beyond just paying off your mortgage. They will not only show you how to get out of debt and pay off your mortgage in the fastest way possible, they will show you what to do with you money after you have paid off the mortgage to create LONG Term wealth.

Sound good? Here is there website where you can complete a simple form and be contacted:

Sydney Financial "Mortgage Miracle" site.


I'll keep posting here to talk about my experience. Feel free to ask any questions.

Thanks,

Ben