Welcome to the latest series at JosephSangl.com – “Ways To Eliminate The Mortgage More Quickly”. It is my hope that this series can help you eliminate what is usually the single largest expense in the household budget and free that money up to much greater things than make a bank rich!
Part 1 Introduction
I remember the day that I signed up for my first home mortgage. I financed such a large amount of money that I could not really comprehend the amount. All I knew was that I wanted to purchase a house, and the bank was willing to lend me the money. When I made my first mortgage payment, I realized just how much this debt was going to cost me. Less than two-percent of the payment was applied to principal balance reduction. The rest of the payment went to make other people and businesses wealthy – banks, insurance companies, and the government.
What I discovered was that if I paid the scheduled payments on my first house for the entire thirty year term, I would end up paying more in interest than I paid for the house. Ridiculous! I set out to find ways to eliminate the mortgage more quickly so that more of my money would be applied to the principal balance.
This will be fun!
Read the entire series HERE