Depending on your interest rate, you will pay 2-3 times your mortgage amount over the life of a 30 year fixed mortgage. The principle is simple, if you pay extra principal on your mortgage, your mortgage length and the amount of interest you pay will be drastically reduced. Most people understand that by paying extra principal early you will literally save years and tens of thousands in interest. The hard part is the discipline and motivation to actually do it.
Last week Ernst and Young honored United First Financial, U-First, as one of the Entrepreneurs of the year. Basically, they developed a software and system to help you better manage your finances and pay off your mortgage loan or other debt early. The software is apparently really easy to use and helps give the coaching and discipline needed to become truly debt free. In the uncertain financial times we’re in, people should probably learn to rely a little less on debt.
Find out more information about U-First, the Money Merger Account, and if it is right for you.
Posted by Atrain
