eBook: Download How Pay Your Mortgage Years ePub (KINDLE, PDF, MOBI) + Audio Version

  • File Size: 1331 KB
  • Print Length: 34 pages
  • Publisher:
  • Publication Date: July 11, 2017
  • Language: English

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Honestly, I expected more from the Morris'. First, the hard to call this a " book". A new pamphlet may be more appropriate since it is only like 25 pages. Several pages initially are committed to explaining exactly what a mortgage loan is. What I don't get is how they think they've stumbled on some great secret the " bank doesn't want you to know". They want you to take out a HELOC and then utilize it to pay down a big portion of the main mortgage. You direct deposit your income to the HELOC which should cover any monthly payment, put your expenditures on a credit card, pay the credit card from the HELOC and leave any excess income in the account paying down the HELOC. Any time the HELOC gets paid down and the equity in the home has grown you get a bigger HELOC. Rinse and repeat. The publication throws in regards to few figures from an example, but never demonstrates the real savings. (0K / 30yr mortgage at 4%, k equity (0k mortgage balance), 80% LTE HELOC at 2%, k monthly income with k in monthly expenses (k remaining each month)) I did the math on a spreadsheet evaluating the Morris method with a HELOC vs just paying of the same amount of excess earnings directly to the primary mortgage. Yes, you can pay off the mortgage in the example in 5 years - but functions with both methods. The Morris method saves approx 00 in interest over the 5 years and finishes a month and a half before the conventional mortgage pay down method - BUT, which is a big but, they depend on teaser rates (2%) and ignore closing costs. Closing costs must be paid upfront and you have to obtain a new HELOC each time your teaser rate runs out. Those two things will eat a big chunk, if not all, of your 00 savings. So what's the point? I do believe most people will be better served spending whatever extra they have paying off the balance on their primary mortgage bassesse enduring all the financial gymnastics associated with focusing everything through a HELOC.

Perhaps the bigger question is, if the Morris' get 12% ROI on their rental properties (ofcourse not in the book) why would you use excessive cash to pay down a 4% mortgage instead of buying more rentals? I obtained it, it feels good to repay your mortgage, but its not the best financial move., This publication really gets you pondering about how precisely to pay off your mortgage in 5 years!, I am not sure it was really worth . 95, however the concept is enlightening the other to consider as an option to promptly lowering your primary on your mortgage payment. This concept only works if you do have a steady income supply create more money than you spend. Great idea overall., I had never known of the plan before I came across Clayton's podcasting. I will be employing this plan immediately to gain financial freedom., Cant wait around to try this strategy for myself. Thank you for bringing great value to the world. Watch your video every 7 days., Very well explained and hands-on strategy. Straight to the idea and a fast read without time throwing away. Should be read by anyone who has or want to get a mortgage loan., This is a great plan of action for anyone with discipline and a budget. Read this pay off your mortgage loan ASAP!, Great, quick read with a distinctive strategy that makes sense. So simple yet very creative. I will employ this strategy immediately!! Thanks. GG

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How Pay Your Mortgage Years
Average Rating: 4.12
Votes: 5
Reviews: 1