This entry was posted on Thursday, July 5th, 2007 at 2:38 pm and is filed under Financing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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Chances are you’ve seen or met those people that promise to ‘teach’ you how to pay off an entire mortgage in only seven years. These mortgage accelerator people generally want $3500 for the pleasure of teaching you to pay extra (disposable income as they call it) money towards your mortgage. They hide this process in a shell game using an unnecessary HELOC loan to convince people that they actually have a unique product.
For those considering wasting $3500 on UFF’s software (which they pay a 4 figure commission on to their sales agents), please consider the following.
If you were to pay $5 extra to every mortgage payment you made on a $150,000 loan…you’d pay off your mortgage 5 payments early.
That’s like skipping buying soda with a meal for two twice once a month…and will save thousands. If you really want to hurt your mortgage, spend the $3500 paying it down.
Use your common sense people.
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