Reduce Your Mortgage to 10 Years or Less.With all the talk lately about Mortgage Cycling versus Bi-Weekly Mortgages which one is really right for you? Choosing the correct one could literally save you thousands of dollars and shave off approximately 20 years on the life of your 30 year mortgage.
Mortgage cycling allows a homeowner to build up equity in their home fast using a patent pending technique. So fast that it ends up paying off a traditional 30 year mortgage in just about 10 years.
At first I was skeptical on how powerful mortgage cycling is until I compared using a typical $150,000 loan for thirty years at 7% interest. After running the figures though the difference between a bi-weekly mortgage versus mortgage cycling is dramatic.
Bi-weekly Mortgage Cycling
Equity 1 year $1,520 $14,061
Equity 3 years $4,900 $44,972
Equity 5 years $8,787 $74,179
Equity 9 years $18,397 $136,429
No matter the loan amount, interest rates or mortgage term, mortgage cycling showed to dramatically cut down the payment time and interest payments to your mortgage company over the life of the loan.
Imagine what you could do with all that extra money that you can put back in your pocket instead of your ortgage company.
Now mortgage cycling may not be for everyone. But for someone who has
the discipline it can be a very effective way of building up the equity
in your home and to pay it off extremely fast versus using a standard
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