The economy has been cruel to your financial lifestyle. Like most hard working families your retirement nest egg is slashed and you almost certainly lost about 30% of the equity in your home. Your financial savings have been stolen from you due to the greed on wall street.
We're all searching around to discover the best financial advice in this market. And in times of crisis it is definitely an excellent strategy to return to the basics.
What is the best financial method in this market?
Mortgage Reduction techniques when applied the right way is a key financial weapon for just about any homeowner in this market.
If we have a look at the stock market, it is still bouncing around and reeling from the aftershock. Aside from continuing to invest in your 401 k it does not make sense to invest in the market. Is it possible to afford to take another massive hit to your retirement savings again in the next year?
So the following best financial strategy is mortgage reduction.
And at this point you are probably wondering why mortgage reduction. And as you hear this term maybe you are thinking the simplest way to reduce your mortgage or pay it off is probably to pay extra, prepay your mortgage or possibly utilize the bi-weekly system.
And you will not be wrong. You see everyone we know from our mortgage brokers to bankers have told us this is the only way. But there's a better way to create mortgage reduction a reality.
And the most effective part if you do not have to improve your lifestyle or spend a cent more.
This is how this simple technique works
This is called the mortgage checking account technique to lessen your mortgage.
And the trick tool behind mortgage reduction system is to utilize a Home Equity Type of Credit (HELOC).
Now this is actually the fun part.
The HELOC may be changed into a checking account. You can convert this to help you deposit your paycheck, pay your bills and make online electronic payments.
With the HELOC as a checking account you automatically use the power of interest leverage and you can convert your 5.5% rate to a 2.5% rate. And by continuously utilizing your HELOC every month you can slash years of one's mortgage and achieve financial freedom.
This is actually the bottom line. You can slash almost 13 years of your current mortgage and save countless amounts of dollars. Imagine what that could do for the finances and nest egg.
This 1 simple technique alone can allow you to restore equity in your house and accept the road towards being debt free for life.