Home Ownership, Financial Freedom, and Benjamin Franklin

Written by Tom Levine


Continued from page 1

B.A Bi-Weekly Mortgage can be set-up so that a payment is due every 2 weeks instead of every month (hence,repparttar coined term, Bi-Weekly Mortgage), which ultimately amounts to 1 extra payment atrepparttar 112178 end ofrepparttar 112179 year...Hardly noticeable inrepparttar 112180 pocket-book, byrepparttar 112181 way.

C.Another similar structure, is to just pay one extra payment, like in December.

D.Another similar structure, is to calculate 13 payments a year, divide by 12, and then pay that amount.

E: Choose one ofrepparttar 112182 above. It doesn't matter which. They all are Bi-Weekly Mortgages. They are incredibly affordable. Pull out your trusty calculator and figure it out. Let's say your payment is normally $1000 a month for your mortgage. Withrepparttar 112183 added 13th payment combined torepparttar 112184 prior 12, your payment would only be $1083 a month!

F: So, if you just add that $83, usingrepparttar 112185 example above, on each payment, and you just leave your loanrepparttar 112186 way it is...A 30 year, fixed rate loan...Your principle, will be paid down much faster...Your loan will be paid off in 23 year. You will have shaved 7 years off your servitude.

5. ON THE 15 YEAR MORTGAGE:

A: Now, there's more that can be done! There are other options as well. How about paying your loan off in 15 Years, instead of 23 years, or instead of 30 years?

B:The 15 year Mortgage is highly under-rated, and unfortunately, under-used by wealth-building Benjamins, such as yourself.

C:They are surprisingly affordable. If you can commit torepparttar 112187 idea of paying a little more each month, then you will be committing to independence, freedom, and financial release fromrepparttar 112188 lender:

D:As an added plus, this program usually carries an interest rate that's about 1/2% lower than a 30 year fixed.

E:Because you'll be paying this loan off faster, your savings on Interest are HUGE! Example: A $300,000 loan, on a 15 year fixed, at 5.5% APR, will save you $206,289! Is that a smile I see, Mr. Franklin?

F: Your loan is paid off in 15 years...Heck, that's just aroundrepparttar 112189 corner.

G: Nowrepparttar 112190 15 year loan is not for everybody, and I would say that if you can't afford a 15 year fixed right now, then consider this as a part of your wealth building strategy downrepparttar 112191 road. It is, however, an essential part of your strategy, and something to work towards.

6. CONCLUSIONS:

A: You must get into a loan, in order to work towards getting out of it. This is a necessary evil, that must be reckoned with, if you are going to utilizerepparttar 112192 power of leverage to build passive wealth.

B: And so once you're in this predicament, you must get out. You must speed up your payments, through either an "Accelerated Payments" program, or through a "15 year fixed" program. If you can move towards this, then you are inching even closer to reaching your goal.

C: The bottom line is this: If you are going to be a millionaire, if you are going to be like Benjamin Franklin, then you must “disdainrepparttar 112193 chain”, and you also must become independent and free. You must work towards removingrepparttar 112194 bonds of servitude, and no longer living your life, as a “Slave torepparttar 112195 Lender”, while atrepparttar 112196 same time, usingrepparttar 112197 power of Home Ownership to reach your 21st century goals, and achieve that level of financial freedom that we all strive for.

We’ve enjoyed providing this information to you, and we wish yourepparttar 112198 best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense. Publisher’s Directions: This article may be freely distributed so long asrepparttar 112199 copyright, author’s information, disclaimer, and an active link (where possible) are included.

Disclaimer: Statements and opinions expressed inrepparttar 112200 articles, reviews and other materials herein are those ofrepparttar 112201 authors. While every care has been taken inrepparttar 112202 compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.



Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. Visit Tom at LoanResource.Net , or read this article in full format here: 4 Franklin , Copyright 2004, by LoanResource.Net .


EMOTIONAL TRADING

Written by Al Thomas


Continued from page 1
broker sent you. Burn them. Now you must not care anything about that company. What you care about now is your money. As long asrepparttar stock price is advancing you may continue your love affair, but when it starts down it is time for a divorce. Time to leave beforerepparttar 112177 damage gets worse. This is where emotion becomes expensive. If you just bought it your ties are strong and you know if you sell you will have a loss. Never fall for that old broker’s adage that you don’t have a loss until you sell. Anyone who believes that will be eating cat food at retirement. When you bought that new car you knew as soon as you drove it offrepparttar 112178 lot it would be worth 20% less than you paid for it. Twenty percent is a lot and more than most folks should be willing to risk when investing. Forget “the long haul” as you don’t want to takerepparttar 112179 40% losses that many investors did in 2000. Usually a good rule of thumb is 10%. When you drive that stock offrepparttar 112180 exchange floor your risk should be limited. You decide how much you are willing to lose if it goes down instead of up and as it goes up carry that risk percentage along to lock in your profit. If you do sell never look back. Fagedaboudit! In 80% of those sales when you do look back six months later you will see you are way ahead in repparttar 112181 money game. Do not allow an emotional attachment to keep you in any stock or fund. It will drain you both mentally and financially.



F*R*E*E investment letter www.mutualfundmagic.com Author of best seller "IF IT DOESN'T GO UP,DON'T BUY IT!" Never lose money in the market. Copyright 2004 Albert W. Thomas All rights reserved.Former 17-year exchange member, floor trader and brokerage company owner


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