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.