How to Pay Off Your Mortgage in 7 Years, Without Extra Payments

by Noelani Rodriguez - Date: 2007-01-20 - Word Count: 304 Share This!

One of the most exciting new topics concerning wealth is “How to Pay Off Your Mortgage in 7 Years, Without Extra Payments”. It used to be that there was only one way to do this--pay additional money towards your mortgage payments. Now in the past few years, new financial products and different wealth strategies make it possible to use special banker’s techniques and pay your mortgage off quickly.  

Here are three ways to pay your mortgage off quickly:

1)      The "Old Fashioned Way" -- Make extra payments. This tried and true method to pay down your mortgage is enjoyed by many homeowners. In our book "Pay Off Your Mortgage In 7 Years" we talk about several ways to do this. Here are two quick formulas: If you start with a 30 year mortgage and pay 30% more per year toward your principal, you can pay your house off in 16.5 years. If you double your payment and add 30% to this amount you can pay your house off in 7 years.

2)      Use a 3rd party program – There are 3rd party companies that specialize in administering your loan so you can: pay biweekly pay your mortgage and start a separate investment account at the same time to pay off your loan (called an offset mortgage) pay in an accelerated way with specially designed products. In our book we provide our readers with a list of companies with these mortgage products.

3)      Banker's strategies - there are financial strategies that help you use the magic of positive compounding to pay down your mortgage faster, without extra payments. We have 7 strategies like this we can go over with you to make your money work harder for you.

For more information on powerful mortgage payoff strategies, please go to our website to learn more about how to pay your mortgage off in seven years.

Good luck with reducing your mortgage debt and living free and clear!

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