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Christian Business Opportunities Bring Relief to Your Daily Routine
Christian business opportunities can literally transform your life. You'll be able to balance your personal and professional responsibilities, increase your sense of financial security, and integrate your Christian beliefs into your workday.
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Is it Boys vs. Girls on the Internet?
Most people who begin internet businesses do so to escape the office politics. Women, in particular, are drawn to the freedom, flexibility, and choice that owning a web based business affords. While the glass ceiling and good-old- boys clubs' exist...
The Musketeer Approach
Stories of intrigue, treachery, politics, lies, double crosses, and power struggles fill the history books, much like they fill today’s headlines. In the world of the 17th century musketeer, life depended on who you could trust. In the world of the...
Why Demo FX Account Performance Is Often Better Than Real Account Performance
Over the past several years, the popularity of online currency trading has grown substantially. Each day, online FX brokerage firms attract new investors - each of them lining up with a glint in their eye, lured in by promises of easy money. ...
Why Would Anyone Want to Hold a Bad Meeting?
Perhaps you have wondered why anyone would hold a meeting that wastes everyone’s time and produces nothing.
There are easy answers to this question, such as 1) they don’t know that their meetings could be effective, 2) they don’t know what an...
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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
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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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