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Christian InTech Articles - Home Business
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Buying A Home – Zoning and Architectural Review Board Restrictions
When you buy a home, you need to be aware of the various things that can limit your control over the property. This is as true for finished lots and single family homes as it is for townhouses, condos, and apartments. It’s a good idea to understand...
How to Avoid Work-at-Home Scams and What to Do When You're a Victim
As more and more people opt-out of conventional jobs and instead choose to work from their homes, the number of work-at-home scams has also increased. Each year thousands of people find out the hard way that opportunities which are too good to be...
Making Your Home Business Work!
Running your own home based Internet business is a piece of cake.
Right?
You've probably heard how easy it is to rake in tens of thousands
of dollars practically over night, and how you can have all kinds
of About the Author
Amrou Sukhon is an...
Starting and Running a Home Based Business
The allure of a home based business is very strong these days with uncertain economic times and the pressures of working long hours for less pay. More and more people are exploring the home based business world to see if it is right for them.
...
When to start working from home?
Timing your work at home business wrong can prove to be your worst blunder! Are you contemplating working from home? Its a great way to earn a living online. People across the world are doing it. It offers some awesome conveniences. The freedom to...
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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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