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Debt Free
Taking Control of Your Finances and Your Future with a Money Merge Account - Click Here to learn more
For many Americans, the dream of homeownership has turned into a nightmare. Rising interest rates, adjustable rate mortgages with negative amortization and lower property values have added up to trouble.
The staggering numbers of foreclosures should be a wake up call for all of us. We need to be more involved in our own finances and we need to learn how to effectively take control of our debt.
Most of us have never imagined owning our home “Free and Clear”. After all, mortgages are designed to last 30 years or more, the banks are now offering 40 and even 50 year loans. Many of us have “Interest-Only” mortgages which are designed for low payments, but your payments are never applied to the principle balance.
It is possible, that with the proper budgeting of your money, you can effectively reduce the amount of interest you pay on your mortgage and eliminate your debt. The amount of money you make each month is not necessarily the key element in debt reduction. The key element is properly managing the money you have, and making it work effectively for you.
The MMA software involves the strategic placement of your money to maximize your interest savings. Imagine paying off your 30 year mortgage in less than 12 years with no alteration to your current cash flow. It is possible, that by properly budgeting an open-ended Home Equity Line of Credit (HELOC), you can save thousands of dollars in interest on your first mortgage. With a HELOC and the proper budgeting system you can effectively trade the closed end interest on your first mortgage for the open ended interest on your HELOC.
In order to pay off your mortgage early, you need to pay down your principal balance. The problem is; most of us don’t have the additional money needed to make additional principal payments. With the MMA, your money doesn’t just sit in your checking or savings account, instead it is actually being put to work for you. The MMA does not move your money for you, so you are always in control. The MMA is the financial dashboard to your financial freedom.