ARE YOU MORTGAGE FREE?

Do you own your house? Do you have a mortgage?

If you answered yes to both of these questions than you do not own your home. You and the bank own your house. In July 2008 the new median average sales price of a home was $208,600. If you put 20% down and financed the remainder, you would have a monthly payment of $1,000.53 on a 30 year mortgage at 6%. Now that doesn't seem too bad, but on that home you would borrow $166,880 and pay back $193,310 in interest plus the $166,880. That means you are not paying 6% interest, but 115% of the principal borrowed. Does this seem a little extreme?

That's Unbelievable!

Because the mortgage is for 30 years you are paying mostly interest in the early years. After year 1 you will have only paid $1,873 in principal. People move on average every 5-7 years. In our example you will have only paid $11,591 in principal, while paying $48,440 in interest. That is over 4 times the amount of principal. The banks know that people move this often. You never truly get ahead financially, because the numbers are stacked in the banks favor. And even if you stay in the same house, you probably will refinance, and the whole process starts again. Give yourself more money - not the bank

Want More of Your Payment to Go to Principal?

Of course you want as much of your payment to go towards principal and not interest. Everyone wants that. There is a method for you to have more money go towards principal allowing you to payoff your mortgage a lot sooner. What would you do if you didn't have a mortgage payment? Would you go on the vacation of your dreams? Would you be able to afford college for the kids? Would you give more to charity? Now you can have these choices.

Here is the Best Part

• Accelerate your Equity position or payoff mortgage in 1/2 to 1/3 of the time
• No need to refinance your existing mortgage
• No change in lifestyle

What is a mortgage burning party?

"Christopher Cruise, a former mortgage broker who now trains people who write home loans, recalled the fading tradition of the 'mortgage-burning' party, in which newly debt-free homeowners invited their friends over and ignited the old mortgage in a joyous blaze of freedom," he said. “One hundred percent of the people I teach in their late 20s or 30s have no idea what a mortgage burning is,” Cruise said. “This whole attitude of paying off the mortgage and owning the home free and clear is disappearing from the country.” “For people nearing retirement, paying off the loan was once viewed as a rite of passage that freed up cash each month and strengthened a household's ability to handle the unpredictable costs of old age, such as for healthcare.” “But increasingly, it is a milestone that people do not expect to reach. A new AARP national survey, for example, found that among workers 55 and older with mortgages, about half doubted that they could pay them off before they retired.” The baby boomers are aging with debt. The generation before them usually had their house paid off or at least paid down which is why reverse mortgages picked up steam over the last few years of high appreciation.

$150 Gift and Start Planning Your Mortgage-Burning Party

We want to give you a gift valued at $150. The $150 gift is great, but the best gift you will receive is when you learn how to unlock the shackles of your mortgage. No mortgage payment will give you a great sense of freedom. When do you want to be free? I know as soon as possible. Then doesn't it make sense that now is the best time to find out how more of your payment can go towards principal? If you would like more information how you can own your home without a mortgage and to find out how you can claim your $150 gift, put your name and email address below.