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Christian InTech Articles - Home Business
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Establishing A Professional Image When You Work At Home
Establishing A Professional Image When You Work At Home by BB Lee (C)2002 (542 Words) It is often difficult to appear professional if you are working out of the home, among noisy children, barking dogs, hungry spouses waiting for dinner. And...
Home Base Resources
Articles and resources for making your home base business a success. Featuring step-by-step guidance that will help you navigate through the endless “get rich quick” mine fields of Internet marketing. Learn from other’s mistakes and build a more...
Home Business Systems - Make Them Work For You
Home business systems allow you to work from home and be your own boss. With many of these systems, people start off small on a part time basis and once they see how the systems work, they soon start working full time with their own Internet...
How To Start Your Own Internet Online Business At Home Even If You Know Nothing About Internet
One of the unique features about doing business on the net is that you are exposed to unimaginable volumes of information. It can boggle your mind. You can read until you go cross eyed and your head starts to spin. You read because you believe that...
Is a Work at Home Business Right for You?
How do you know if a work at home business is the right one for your business type? Well, there are some clear criteria that can tell you if you can do your dream business out of your home or if you should get an office.
If you are thinking about...
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97% Of American Homeowners Overpay Their Lender In Mortgage Interest Every Month.
97% Of American Homeowners Overpay Their Lender In Mortgage Interest Every Month.
If you own a home, have just re-financed or are shopping for a mortgage, you’ll be outraged.
Housing: Americans across the country were shocked to hear of a new poll that states 97% of homeowners here in America are overpaying millions of dollars each month in mortgage interest.
The National poll was conducted last month to determine how many homeowners take advantage of the prepayment loophole in our mortgage system, which eliminates costly interest overpayments.
The shocking results showed only 3% of America’s homeowner population utilize this loophole and take advantage of the valuable benefits created by it.
When Sean Drover, a Chicago businessman and homeowner found out he was overpaying $217 in mortgage interest every month, he was appalled.
“Honestly, I was sick to my stomach when I thought back on all the monthly payments I’d made. If I would have known about the pre-payment loophole when I first bought my home I could have put all that money into equity instead of my lenders pocket.”
The problem lies with what the banking industry calls “front loading”. This is when the majority of a homeowner’s payment is applied towards the interest on the loan instead of the original amount borrowed.
The disturbing fact about front loading is it ensures you’ll pay over three times the original amount borrowed. Thus, resulting in enormous profits coming straight out of your pocket and directly into your lenders.
… Most people (97%) never stop and take a good look at how damaging the system really is. Unfortunately, it’s just the way conventional mortgages are structured here in America.
Average Homeowner overpays $60,000
In fact, the
average homeowner in America is overpaying $2000 in mortgage interest every year, or $60,000 over the life of the mortgage.
“That’s an enormous amount of money”. Says top mortgage analyst, Craig Romero. “This is money that homeowners are needlessly giving away each year. Imagine what a person could do with an extra $60,000.
While gaining back thousands of dollars from these overpayments is a huge benefit, it’s not the only one. Cutting up to 10 years from the term of a traditional mortgage is also another major advantage.
“I’ve been using the prepayment loophole for years”. Says Denver homeowner, Curtis Landau. “I’ve actually been able to remodel my home and pocket about $25,000…all from the equity that was built so quickly.”
Americans must understand this prepayment loophole isn’t something lenders are eager to share with their customers. If they did, they would risk taking a huge cut in profits.
With over 50 million mortgages in force, it’s estimated Americans overpay their lenders in excess of $12 billion every year. It’s no wonder this loophole is kept secret…lenders are undoubtedly getting rich off these interest overpayments.
Written by Craig Romero
To see how well the prepayment loophole will work for you please enter his site at: http://www.wisemortgageinfo.com
Craig Romero is an author and mortgage analyst dedicated to helping homeowners maximize the investment in their homes.
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About the Author
About Craig Romero:
To see how the well the prepayment loophole will work for you, please enter Craig's site at: www.wisemortgageinfo.com
Craig Romero is an author and mortgage analyst dedicated to helping homeowners maximize the investment in their homes.
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