Paying off a 30 yr or a 15 year loan or any kind of long term financing is not fun. Every month you write the check for the payment amount and watch your mortgage balance drop by almost nothing. If you have some extra money you could put it toward the principal balance but what if you need it later. You can't recall those dollars.
Along comes the most remarkable mortgage product........... ever for the "responsible adult" in the Home Ownership Accelerator. Here is a product that acutally makes paying your mortgage each month a pleasure. Why, because your payment is actually deducted from your checking account because your mortgage account and your checking account are one.
Here is how it works,
You deposit your income directly into your loan,
Therefore YOUR average daily balance is less
Therefore, YOU save interest,
Therefore, You have more money for principal
Therefore, YOU pay off faster
Notice how your spending habits did not change
You actually save in two ways. The money you deposited saved you interest untill you spent it and the money you didn't use reduced your principal balance immediately. It sounds too good to be true but this really does work for the the repsonsible adult". Your mortgage pays off unbelievabely fast!
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