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The 21st Century Way To Build Equity
By: B. F. Boggan
Here to stay and firmly established in the U.S. mortgage market, biweekly
mortgage payments are gaining momentum. First introduced into the U.S. in the
early 1980's by several small Northeastern Banks, the idea of biweekly mortgages
has its origins in Canada.
This concept soon became the popular choice nationally within less than a decade
after it's arrival placing the biweekly payment plan in the forefront of
Canada's mortgage industry around 1972 for several good reasons. Consider the
following:
1. Most people are paid weekly or biweekly, therefore, it is reasonable to have
as an option "biweekly mortgage payments".
2. On a biweekly mortgage payment schedule, one half of a loan's monthly payment
is made and credited to the account holder every two weeks. This is equivalent
to making 13 monthly payments instead of the usual 12 monthly payments reducing
the loan's payoff time.
3. Faster accumulation of equity build up of up to 300%, plus a reduction in
interest owed on the loan due to your prepayment is the result of using a
biweekly payment schedule; that's without any increase to your monthly output.
In other words, you'll get more value per dollar and save thousands as well; as
much as 25% to 30% in interest over the life of the loan.
Combine the benefits of a biweekly payment schedule with a union between an
Electronic Funds Transfer (EFT) mode of account servicing that is governed by
Regulation "E" of the Federal Reserve to a plug into the internet and you will
find a super-efficient, safe, consumer-friendly method of paying a monthly
obligation that won't take a huge bite from one paycheck. It doesn't take
nuclear physicists to understand why this type of arrangement is frequently
referred to as the "Common Sense Mortgage".
Now that there's breathing room because money has been "freed-up" and also saved
by using a service such as this, go on an excursion for some sunshine, sand and
surf, have dinner at a five-star restaurant, or better still, invest in your
financial future. It's your money. Once you've tried this equity acceleration
program (EAP) for yourself, you'll realize its value.
With more available choices, creating enjoyable lifestyles and looking out for
your family's financial well being is easier today than it ever has been. The
bad news is that time is not on you side with a standard monthly mortgage
payment on a 30 year loan. As a matter of fact, you are not getting the most for
your money. The good news is that help is here; the technology does exists
giving consumers unparalleled conveniences plus an advantaged boost.
Better Business Bureau (BBB) member, Bridgeco Central (BCC) is a distributor and
national service provider in the U.S. of the on-line resource the Mortgage
Manager Hi-Tech Mortgage Payment Service. To obtain an application to apply for
the biweekly payment service at no cost visit
www.eMortgageManager.net. A
password-protected mortgage-auditing program is also included at no cost to the
consumer after 6 months of using the service. Welcome to the 21st Century. |
