Those with lethal mortgages should look into home equity acceleration to payoff their homes *years* sooner than listed on their amortization schedule:

More and more folks are using a Home Equity Line of Credit (HELOC) or a business-line-of-credit (BLOC) or personal-line-of-credit (PLOC) as an interest cancellation account to accelerate their home equity and payoff their home *years* sooner than listed on their mortgage amortization schedule.

Unfortunately, today’s Real Estate market means that folks can no longer count on appreciation to build home equity. Those who realize that they need to pay down their current mortgage debt are looking for alternate ways to aggressively (yet safely) build equity.

And they’ve discovered a perfect online system to do that; they can focus on their wealth accumulation goals while accelerating their equity simply by using a Home Equity Line of Credit to ‘power’ the Money Merge Account™ financial solutions program.

A typical 30 year loan (of whatever type) can be paid down in 1/3 to 1/2 the time — it’s a great way to save *huge* amounts of income by eliminating a mortgage amortization front-end interest load. (On a million-plus dollar home, I’ve personally seen where the Money Merge Account™ program will save the homeowner $750,000 in interest charges!)

And the best thing – homeowners don’t have to refinance their existing mortgage or, in most cases, make any adjustments to their lifestyle.

It is unfortunate that most of us were never taught to follow three essential principles: (1) Avoid paying interest, whenever possible, (2) Use other people’s money, whenever possible and (3) Find and use a financial system that will guide you, especially if you have the tendency to go off-track. The Money Merge Account™ software and the program’s counselors use these principles to keep each homeowner focused on their wealth accumulation goals.

I’d be happy to provide further details…

When we first got this house, it went for 77.9K in 1996.

We re-financed twice, once to take off the PMI after I put some money I inherited from Mother Avenger, during which Ilocano Avenger, my noble bride, terrified the mortgage broker who tried to have us re-fi at the same interest rate we paid before.(We did get the lower rate, and he confided to me that IA ‘was very angry with him the last time they talked on the phone’)

The second time, we re-fied based on the increasing propery value, got a 15-year fixed rate, which we’ll probably pay off a lot sooner than the 15 years term.

We could probably refi for and get more money out of the house, but our cars are paid for, we don’t have any humongous bills, etc.

Oh, and the house my sis-in-law bought? It was a foreclosure. Her realtor(get a realtor if you’re buying folks, otherwise you might as well paint a target on your back if you don’t know what you’re doing) told me that it can cost a bank thousands of dollars to do a foreclosure.

After the S&L crises, I have little faith in the government/finance industries ability to control its greed. To bad we can’t use that greed for something good, like giving low income families a chance for home ownership. Think of it as an up to date G.I. bill, where unqualified and underfinanced vetrans got the chance to go to a top ranked university and turned their opportunity into an economic powerhouse.

Just a thought

So, people who want to sell and move, can’t. People who must sell to move (job related or whatnot) will have to sell at a loss. Driving them deeper into debt.

And the final big bad hit is gonna be Goldman Sachs. When Goldman goes, the economy goes. Derivatives and hedges are gonna break the economy’s back. And I have a feeling that in addition to being a company that makes all its money in derivatives and hedging that there is some massive type fraud going on at Goldman. No insider information here, just a hunch.

The people next door who are trying to flip their unit at $385K are either a) wildly optimistic, or b) know more about the market than I do…..

Oh SURE. Now look what all of this gab did. You affected the market…

But I’m lucky. I work at a mortgage company and every day I see stacks of forclosure documents showing people whose houses sold at auction for less than half of what they owed on it, and they still owe the difference (wheather it can be collected or not is another story).