If what you knew to be true about your mortgage, turned out not to be true, when would you want to know? Probably right away.
There are countless ways to set up a mortgage. There are 30-year fixed rate mortgages, 15-year fixed rate mortgages, balloon mortgages, and interest only mortgages. The list goes on and on. The question we have for you is this. If banks and mortgage companies made exactly the same amount of money on a mortgage, no matter what kind it was, how many different mortgages do you think there would be? If you answered one, then you are probably correct. The truth is, much of your wealth both now and in the future can be found in your mortgage. That’s right. Your mortgage could be the key to growing wealth!
Many of us learned about what the best strategy was for a mortgage from our parents. They lived in the same house for 30 years. They held the same job for 30 years. They may even have paid their mortgage off after 30 years, and then they had a mortgage burning party! Will this work for you?
The truth is many people are either stuck in their old ways of thinking when it comes to a mortgage, or they are employing strategies that might even create more of a financial risk than they are willing to take or should take. How you manage your mortgage is probably one of the most important financial choices you can make today. You may have heard of terms like “equity harvesting” and are skeptical about how that works. You may have heard you should pre-pay your mortgage and get your home paid for as quickly as possible. You may have thought paying cash for your home would be the best thing to do. What’s the right answer? Of course there is no one right answer. What might be best for your friends might not work for you at all. To arrange a free consultation on mortgage planning, click here.
