Pay Off a Thirty Year Mortgage in Eight to Eleven Years

Through using an advance equity line of credit and a bank account, a thirty year mortgage can be paid off in eight to eleven years.

(PRWEB) November 9, 2006 -- Most homeowners realize they will pay almost twice the purchase price of their home if they make the mortgage payments on time and pay for 30 years. In these times of uncertainty more people are thinking of ways to pay that mortgage off early. Paying off a mortgage early can accomplish two things for people. Owning a home free and clear offers security for families. Also paying down the principle can free up equity in the home that can be used for certain investments and purchases.

There is a new system that can help individuals break the cycle of financial drain caused by a traditional mortgage. It uses an advance equity line of credit, as a vehicle or a tool and connects your bank account, equity line and primary mortgage. This system rapidly reduces the principle of the mortgage practically eliminating the interest from accruing on the loan. The principle loan can now be paid off in about 8 to 11 years, with no change to lifestyle or no need to refinance.

This system does not require a bi-weekly payment or debt roll-down system. It is a new approach that gives homeowners flexibility with their money and complete financial freedom.

Let's look at an example of what you could save if you paid off your Mortgage in 11.3 years instead of 30 years. A 30 year, $136,00 mortgage at 5.25%, when paid through conventional monthly payments, will result in a 30 year total repayment of $270,784 - nearly twice the cost of the home. If you pay off the same loan in 11.3 years the total repayment would be $181,217. This is an incredible savings of $89,566. This system of utilizing your equity line as your checking account means virtually no change in your lifestyle or increase in monthly payments.

Along with repaying a mortgage early, this system can help with:

    Reducing monthly debt by consolidating other debt

    Funding a major purchase (new car, holiday home, boat, etc.)        

    Buying a second property

    Planning for school fees or university costs

    Coping with short term ill health, unemployment or moving jobs

    Planning for maternity

    Short term spending e.g. holiday, Christmas

    Making the most of an inheritance, windfall, large bonus or maturing investments

    Funding home improvements

It is ideal for:

    Self Employed

    Young Professional

    Young couple - first time buyers

    Commission based incomes

    Irregular incomes

    Older Couple - children left home

Kathryn Anderson, President of Lone Peak Business Solutions, says, "In my 27 years in the financial field, I have found this system to be a brilliant way to pay off your mortgage early and get control of your finances."

For more information go to www.lonepeakbusiness.com/mma.html.

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