Quickly Paying my Mortgage off.

 Quickly Paying my Mortgage off.

                      Hey guys it's me Onesiphoro writer of Onesiphoro blog.com. In this blog, I will share with you my experience of how I quickly paying my mortgage off. The thing to have a paid-for house, as a matter of fact, it is a great thing to have a paid-for house I've done detailed research in-depth research and we have discovered that 100 percent of foreclosures occur on homes with mortgages the borrower is a slave to the lender get your house paid off so any other money about our 14% going into retirement above saving for kids college any other money that comes to us we're dumping it on the home mortgage and knocking out the home mortgage as fast as possible can you imagine how wealthy.  you would become and how fast you would become wealthy if you had no home. mortgage oh I got to tell you It's awesome soon as you pay off your mortgage. take off your shoes walk through the backyard the grass feels different under your feet the daily balance on a typical mortgage stays high and stays the same for the entire month until you make your payment and a large chunk of your mortgage payment goes toward paying the interest on that loan and only a very small portion goes toward reducing the loan balance itself this then gives you new daily balance for the following the month that stays the same until you make your next monthly payment here's what happens to our $220,000 mortgage over the years after five years 10 years 15 years after 20 years we would have paid.

           more than what we borrowed and still owe. more than half of the original loan amount after 27 years the total payments on our loan will be over half a million dollars that's because along the way it will also cost us almost two hundred eighty-three thousand dollars in interest but the real cost
of this 270. Our mortgage for the average family is over seven hundred and thirty thousand dollars so if you have a thirty-year mortgage right now the real cost to you is almost three times what you borrowed another way to look at this is that you're really being forced to pay for three houses with your hard-earned money one for you and two for the bank.

        

                         Now what happens is right now all banks front-load that's exactly how the bank makes their money and if they tell you anything different the lion so what happens is when you let's say for example you took out a  mortgage and it was for a hundred thousand dollars a hundred thousand if you paid them exactly what as promised you will pay them three hundred thousand dollar money so, in other words, you give the bank two hundred thousand dollars of free money. That's it for today guys see you on my next blog.