 |
Further
Reading ...
|
|
Navigating the Global Internet - Susan Dunn MA Internet Marketing Coach and Consultant
If you have clients or customers in other countries and work on the Internet, here’s a primer to help you decipher the URLs and emails you’ll be receiving. First of all, extensions. The most common are .com, for commercial sites; .edu or .ac for...
Secured homeowners loans – in case you thought a home is worth few dollars - Maria Smith
Money is like music, if managed well, produces a good symphony. One wrong note – one wrong decision – it produces a jarring sound. A homeowner knows what an important investment home is. And he or she can’t probably go wrong with this kind of...
Credit Card Debt Problems - Ethan Hunter
What to Do If You Hit the Debt Mire When debt goes bad, it becomes more than just a financial problem. It can take over your life. If you have a debt problem the earlier it is handled and dealt with, the less likely it’ll turn into a crisis,...
10 Wisdom-Based Wealth-Building Strategies - Gala Gorman
“It’s the business of your life… and you’re the CEO!” Gala Gorman Imagine that you’re Noah and God is telling you that you need to build the ark. You might suspect that Noah was a bit skeptical. Could it actually rain for such an extended...
|
|
|
Alternative Options For Rising Interest Rates
|
 |
Written By:
Thad Collins
|
|
|
As interest rates have risen in the last six weeks from record lows, homeowners are once again face with finding viable options to reduce the amount of interest paid on their home loans. The rush to refinance provided borrowers with good to excellent credit the opportunity to take advantage of low interest rates, that helped to reduce their monthly mortgage payments, which was the only benefit provided by the lowered rates.
The one option that still eludes most homeowners, and is recognized and supported by financial and government organizations including Fannie Mae, is Biweekly Equity Acceleration. This industry has made great strides to become a viable tool to help homeowners reduce their mortgages, while building equity in their homes up to three times faster. Biweeklies provide another important benefit versus refinancing; it allows the loan to be paid off sooner than the original stated term.
A mortgage company will not accept a half payment except by special arrangement, and this sort of arrangement is rare. To begin a Biweekly Equity Acceleration Program the homeowner deals with a service provider like Consumer Mortgage Reduction Service, or another company. There are about 30 companies in the United States that specialize in biweekly equity acceleration, and they provide mortgage reduction services directly to the homeowner.
These programs are easy to initiate and do not require refinancing, just complete a few short sign-up forms, and the biweekly company takes over from that point. The process does not change your current mortgage arrangements, just the way your payments are made, instead of one monthly payment the mortgage is paid one half every two weeks. These biweekly payments are automatically deducted from the clients checking or savings account, and applied to the loan in a way that reduces the principle amount owed every six months.
Today’s consumers are more than ever trying to reduce the amount of debt they have, and this is evident by the rapid rise - continued below ...
|
|
|
continued ...
of Debt-Consolidation companies, but the largest debt a consumer has is, the home mortgage. The majority of homeowners overlook this fact when planning to reduce their dept, yet the use of biweeklies can decrease their mortgage substantially, in a shorter period of time, usually cutting the term by six to ten years.
And, with the rising interest rates, trying to reduce their debt load including the mortgage will become a bit more difficult without taking advantage of biweekly programs. A 30-year fixed rate mortgage for $150,000 at 6% interest would be paid off 6 years earlier, and would save the homeowner up to $30,000 in excess interest payments. The amount of time and interest saved depends upon the amount of the loan, and the interest rate.
“Biweekly Equity Acceleration has been in existence for over 20 years, and has allowed millions of homeowners to pay off their mortgage in less time, while building substantial equity faster,” said Thad Collins owner of Consumer Mortgage Reduction Service whose website is located at; http://www.consumermortgagereduction.com “While saving the homeowner up to $60,000 in needless interest payments, without refinancing, and this is accomplished regardless of the current interest rates,” he continued.
Interest Rates have become a great concern for homeowners, and those who may be contemplating purchasing a new home, but with alternatives to rising rates like biweekly equity acceleration programs, these concerns can be eased. If the average homeowner can save money per year in any interest rate environment, then the use of biweeklies provides a solid foundation to the purchase of a new home.
Thad Collins is the owner of CMRS which provides biweekly equity acceleration programs to entrepreneurs looking to start a new business venture, for more information visit http://www.consumermortgagereduction.com
|
|
|
|
 |
|
|
| _Additional Resources ... |
|
10 Secrets of Sales-Driven Websites - Jason OConnor
TERMS OF REPRINT You have permission to publish this article electronically or in print, free of charge, as long as the bylines are included and you follow these rules: *Email distribution of this article MUST be opt-in email only. *If you post...
Are You Cut-Out To Own a Home Business? - Becky Gilbert
Now that I have my own home business I realize that I am cut-out to do this kind of work. The shoe fits and I wear it well. But I also realize that some people are just not cut-out to do this kind of work. I often dreamed of having a business...
Debt Facts - Ian Young
In 2003, almost one and a third percent of US househoulds (about 1,650,000) filed for bankruptcy, indicating that bankruptcy may not have quite the stigma attached to it as in other parts of the world. Somehow, the USA, with a population of about...
|
|
|
|
|
|
|
|
|
|
