A home is one of the most expensive things a person buys in their whole life. Most of the time, a home loan is needed to pay for the purchase. But how many times have you heard that the way we pay off our mortgages now is bad for our financial health? The mortgage and banking industries sold the most expensive mortgage, the 30-year fixed amortised mortgage, to people who didn't know what it was. This is like the cigarette industry selling cigarettes.
The only option for US consumers has been to get a mortgage, which only helps banks and mortgage companies. Now there is a revolutionary mortgage programme that will show them how to pay off their home loan in as little as 7 years.
Enter Money Principal Group, a company in Utah that was started by New Zealander Ariel Metekingi. The Mortgage Eliminator is their most innovative mortgage product. It is based on an Australian industry standard and model that has been used by more than a third of homeowners there for more than 30 years. Later, it was put on the market in New Zealand, where homeowners get the same results: they pay off their debts and mortgages on average in 6–10 years.
This powerful new tool to fight the problem of debt combines a mortgage and a bank account with all the services. The new "all-inclusive" type of loan saves a lot of money on interest payments and makes it possible to pay off the loan in half to one-third less time, without having to change spending habits or income.
How does it work? Homeowners put their income and other assets into the newmortgage account, which can be used like a checking account. Checks or ATM cards are used to pay for expenses from the account. The most important part is that the homeowners' money sits in the mortgage account when it's not being used. This lowers the daily loan balance, which is used to figure out interest. This saves an average of hundreds of thousands of dollars in interest over the life of a typical loan. Less interest means more money for the principal, so the homeowner builds equity faster and owns their home sooner.
Ariel Metekingi, the founder and president of Money Principal Group, says that this gives homeowners the power to take charge of their financial health. "With this new loan programme, a homeowner can fight the financial cancer that is consumer debt and make the most of their current mortgage options to reach their goals sooner rather than later. This isn't some kind of magic number trick; it's just taking the interest spread that banks make and giving it back to the homeowner."
There are three things a consumer can do to cut down on their mortgage payments and have their home paid off in as little as seven years.
- Figure out what you want to achieve.
One of the first steps in The Mortgage Eliminator programme is to get a better idea of where you stand financially and decide what kind of goals you'd like to reach. First, look back five years and see where you were. Then, what did you think would happen? Did you expect some things to have happened by now? Would you be willing to make changes to reach those goals if they didn't happen?
Setting goals is important because it lets you make a flexible plan and timetable that you can follow. Think about where you want to be in five years. What do you want to get done?
Let's say one of your goals is to have an emergency fund with at least one year's worth of your current income, and you'd like to reach that amount in, say, two years. Another goal, if you have children, is to save money for their college. And finally, you've wanted that sports car since you were a teenager, but you've never been able to get it.
Now that you know what you want to achieve, what would it take to get there? And remember that your household income is likely to stay the same.
Are there current ways to invest or get rid of debt that could help you reach your goals?
Using The Mortgage Eliminator and your flexible mortgage account can help you save a lot more money and interest and free up resources to help you reach your goals. And it doesn't have to make a big difference in how you spend money or how much money you bring in. Just figure out how much money you make and how you plan to spend it.
- Make a plan for money
The next step to quickly paying off your mortgage is to look at how you spend money now and make a budget. How hard is it to do? That depends on how committed you are and how well you can force yourself to review your budget.
The Mortgage Eliminator from Money Principal Group helps homeowners in a few ways. One is that it comes with budgeting software and personal coaching and review. Studies show, and human nature backs this up, that we're much more likely to make and stick to a budget if we have tools and a personal Coach to help us. Money Principal Group says that The Mortgage Eliminator system works for more than 90% of its clients.
Think of your personal financial education as having a coach, just like a great tennis player or golf pro has a coach. How many of us depend on a coach to help us get rich?
With The Mortgage Eliminator, you get a coach to help you review, make, and stick to a budget that creates positive cash flow. This will get you to the next steps of paying off your mortgage faster, even if you don't change how much you make or how much you spend.
- Get a review and analysis of your money
Everyone has a different and completely unique financial situation. Think of your life as a human body and your financial debt, such as a mortgage, as a cancer. Before a surgeon operates on a patient, he or she looks at all of the patient's symptoms and decides where to start cutting.
Think of a review and analysis of your finances as a "surgery" on your situation. What kind of loan do you have right now? Do you want to buy your first home? You may need to switch from an adjustable-rate loan to a fixed-rate loan.
How are your finances and what is your budget right now? The financial review and analysis depends a lot on your income, expenses, current debt, and short-term and long-term goals.
A financial "snapshot" or review must be done to find out how quickly you can pay off your current debts and mortgage, or how quickly you can pay off your first home if it's your first one. The most important step in figuring out how to start your plan is to look at your income, your debts, and how they fit in with your goals.
What is the best way for you to reach your goals from a strategic point of view? With a review and analysis of your finances from Money Principal Group, a plan is made to show you the best ways to quickly reach your goals. Only a loan that SAVES YOU MONEY is offered, and if it doesn't make strategic and financial sense for you, it's not offered and a different course of action is suggested.
Does everyone need this new type of loan and system? Yes, if you can follow the simple rules of budgeting and have positive cash flow or are willing to look at your budget to find ways to get your money back and make a lot of money. You must be willing to be coached and let your goals guide your plan of action. If you're willing to do that, the payoff is unlimited, and getting out of debt and paying off your mortgage in 6 to 10 years is no longer a dream, it's a reality.
"It is now possible to pay off your mortgage in 6–10 years, get rid of consumer debt quickly, and use your current income to start a big investment plan for the future. All of this can be done without getting more money or lowering the standard of living. The Mortgage Eliminator has given people in New Zealand and Australia the power to change their own financial futures in ways that many people in the past could not do "says Metekengki. "It is now possible for the US to reach the same level of financial success and freedom that these other countries have already reached and proven."
Visit www.PDXLoan.com or call 1-800-862-0784 ext. 21 for more information on how you can be debt-free and pay off your home mortgage in as little as 7 years. You can also use their calculator to see how much you can save with their Money Principal Program.
