In fact, a 6% interest rate is only ever 6% if the borrower stays with the mortgage for the full term (30 years, in our example). This is something that only a very small number of homeowners actually do. If you sell or refinance before your loan is paid off, the interest rate you end up paying is usually much higher than 6 percent. That means the value of your home would be $1,842.02 if you owned it. You "put in" $10,791.98, but only get back $1,842.02 in return. (In that first year, that works out to an interest rate of over 500%.) To get to that number, we need to know that we spent close to $11,000 on the house but only have $1,842 in equity. Yikes! The amount of interest that the bank actually charged was so high that it made the bottom line so low. It's easy. Flip the bank on its head! We've shown you how they put more interest at the beginning. Now you know what Secured Loans UK has taught thousands of people who are already paying off their mortgages: find a way to put more of each payment toward paying off the debt. Oh, yes, it's simple! But there's something else wrong. The banks have ways to keep you from seeing this in order. They won't tell anyone any secrets because doing so would hurt their business. So, they've set up a minefield to make it hard for homebuyers to stop the trend of front-loading, which is bad. But take our word for it: there is a way to legally and easily get through this minefield and pay off your mortgage in a fraction of the time. Secured Loans UK has helped thousands of home buyers learn many of the same things you can learn with us, and they are already taking action.
The key to success is advance acceleration, or real mortgage acceleration.
