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Going Mobile (Part 2): How to Get In on the Wireless Revolution -- Without Credit Checks or 2-Year Commitments
This article may be used freely on your website as long as it remains intact, including author byline and resource box and links. We would appreciate it if you would notify us when it is used: Going Mobile (Part 2): How to Get In on the Wireless ...
Madeline Hill; Senior Community Pioneer
Madeline Hill may be unique among senior community developers. She created her multi-million dollar “city,” – an upscale, yet affordable group of single-family homes, condo’s and apartments -- not so she could become a rich and powerful CEO, but so...
My Identity Crisis
My Identity Crisis By David Leonhardt When we are young it is all so simple. We know exactly what I want to "be" when we grow up. You know what it's like: "I want to be a fireman." I want to be a ballerina." "I want to be a movie star." "I want to...
To Get Free Publicity, Think "Local"
How do you identify newsworthy stories where you work or live? Especially newsworthy stories about yourself or your company that you can pitch to the media in the hope of getting some free publicity. By remembering a semi-famous quote from the...
Top 10 Ways to Handle Problem Co-Workers
Gossiping, backstabbing, power plays - everyone has had to deal with difficult co-workers. They can sap your energy and stand in the way of your enjoyment of your job.
1. Review your company policy, if any exists, to see the guidelines on...
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Biweekly Mortgage
The Biweekly Mortgage
Copyright 2005 By Tim Phelan
The biweekly mortgage has been around for years but with the
recent media attention to the real estate industry in
general and the mortgage industry in particular, the
biweekly has been getting thousands of home owners to use
this simple, yet powerful, way to speed up the principal
payment process. Why is this so popular? How does it work?
How can I do this?
Here is why this is so popular to hundreds of thousands
homeowners. It is an easy and effective way to increase the
equity in a home. It can also shorten the life of the
mortgage substantially. It does this with just about the
same mortgage payment that one usually makes per month so it
is affordable to anyone who owns a home. The biggest
obstacle is just doing it.
Biweekly means that the homeowner will make a payment every
two months instead of once per month. Basically what you do
is take your monthly payment, cut it in half and then make
that payment every two weeks. So how does this save money?
Well, by paying every two weeks you will actually end up
paying more off the principal every year because:
1. There are 52 weeks in a year.
2. That means you make 26 payments a year.
3. With the monthly payments you would make the equivalent
of 24 payments a year.
4. The 2 payments extra would go towards your principal.
5. This accelerates the payment of the loan and each month
the principal gets paid by an ever increasing rate.
The great thing about this is because each month is only a
few days over 28 days ( 4 weeks)
the biweekly mortgage payments are not a hardship on any
home owners. The most extra days in a month are 3 and some
months have 0 or just 1 extra day.
So why wouldn’t
everyone just do this? I think much of it
has to do with either they don’t know about it or they think
“ I can just pay extra off my principal anytime I want. Why
pay biweekly?”
But the problem is that a large percentage of people don’t
ever make any extra payments to their
principal. They think about it but don’t do it. There is
always other more important things to use the money for,
even though the actual money they need every month to make a
big difference is quite low.
Discipline is a key factor here. If someone has enough
discipline it really isn’t necessary to use a biweekly
mortgage plan. This doesn’t mean that people who don’t use a
biweekly aren’t disciplined. Only those who want to pay down
their mortgage principal but never seem to be able.
So, in a way the biweekly is just a formula to help
homeowners, who are usually very busy with other parts of
there life, become more disciplined and make them pay off
the mortgage principal
more quickly. With today’s prices, a homeowner can save over
$50,000 and cut 5 years off the life of the mortgage!
For a totally free biweekly mortgage manager visit this
link:
mortgage-manager.info
___________________________________________________________________
About the Author
Tim Phelan is a full time internet marketer who has been self employed for the last 12 years.
Real estate, the environment, art, world culture, politics are some of his other interests.
Visit Our Site
email nalehpmit@yahoo.com
Blog timphelansblog.blogspot.com
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