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We have compiled a list of some of the Top Ways To Pay Off A Mortgage Faster
Top Ways To Pay Off A Mortgage Faster
Want to get relieve yourself of mortgage stress? Check out our tips for paying off your mortgage faster and saving more money. By Krystal Yee Purchasing a home is a major accomplishment, but paying off your mortgage as early as possible will be the best investment you can make.
For many Canadian homeowners, paying off their mortgage as quickly as possible is a top priority. Paying down extra principal in the years by whatever means possible can shorten the life of your mortgage and dramatically lower the interest you'll pay over the long haul.
If you own a home, it's likely that you're still dragging the old ball-and-chain. No not that one - we're talking about your mortgage. For many homeowners, 10, 20 or even 30 years down the road seems like an impossibly long commitment, which often means we slog along, and forget all about what it would be like to be mortgage-free.
Financial planner and FP columnist Jason Heath helps readers shed light on everyday financial decisions. Send your questions to firstname.lastname@example.org. Chris asks: I have a large mortgage ($327,000) and I have been thinking a lot lately about a plan to pay it off by age 50.
If you intend to pay off your home mortgage as quickly as possible, then you're in the majority; a survey released in 2008 by the Canada Mortgage and Housing Corporation claims that more than 75 per cent of survey respondents who bought a home in the previous year said being mortgage-free sooner was their goal.
While I've been busy sinking money into mortgage payments, daycare costs, RESPs, RRSPs, utilities, groceries, vehicle maintenance and the occasional vacation, I've somehow failed to notice that many Canadians seem to be doing all this - and stepping up their mortgage repayments, too.
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Follow these top financial tips by Warren Buffet (the worlds wealthiest man) to “rocket” your financial world to success…
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And you are reading an uncensored and honest review of my eBook “The UnCanadian Way To Get Rid Of Your Mortgage And Create Wealth”
If you are a Canadian looking for a way to pay off your mortgage faster without spending more money don’t let the book’s title stop you from picking up your copy.
I am also a very proud Canadian but with over 26 years of experience in the financial services industry.
I have seen first hand how paying off a mortgage faster “The Canadian Way” is working.
And for the vast majority of folks its a struggle.
So why am I writing this?
Because I feel compelled to show Canadians that there is a better way to deal with their mortgage than has been taught by our parents, friends, bankers and those in the financial services industry.
“The UnCanadian Way To Get Rid Of Your Mortgage And Create Wealth” is a practical and precise blueprint that reveals how to transform your mortgage from “just a loan” that needs to be paid off as fast as possible into a strategic financial instrument – benefiting you NOT the bank!
However, be warned – inside this book I dare to question the conventional wisdom on how to pay a mortgage off faster that most Canadians and those in the financial services industry accept and practice.
I believe that this book does an excellent job of revealing a much better and unique alternative way to pay a mortgage off faster.
I highlight the problems that I have witnessed first hand of folks using the traditional “Canadian Way” method
Then I go on to prove that there are powerful “non mainstream thinking, out of the box” alternatives to paying off a mortgage faster – and back up these ideas with hard facts and numbers!
What does the book do?
“The UnCanadian Way To Get Rid Of Your Mortgage And Create Wealth”:
- Teaches you that how you deal with your mortgage will totally define your future investment and retirement success
- Outlines a process that will forever change the way you look at your mortgage again
- Teaches you how to transform your mortgage from being “just a loan” into a strategic financial instrument – benefiting you NOT the bank
- Shows you how to effectively put the lazy, idle dollars trapped in your home to work for you
- Shows you how to find perfectly legal tax breaks – and treat yourself to some surprising windfalls (“The Smith Manoeuvre” on steroids)
- Is a thoughtful examination of a wealth creation process that creates little known tax relief the while creating assets to help you reach your “freedom point” – your financial independence – long before “retirement age”!
What does the book NOT do?
“The UnCanadian Way To Get Rid Of Your Mortgage And Create Wealth”
Does NOT promote a get rich quick scheme! It is a wealth creation FORMULA!