Have You Calculated Your Mortgage Freedom Day? If Not, Why Not? We Can Help...

Editorial: Twenty-Six years ago (when I bought my 1st of 3 homes) had I known mortgage elimination software existed; there were several mortgage elimination strategies, I would have been mortgage-free 10 years ago; sadly, I did not have any help or guidance from my bank. That stops today! You are not alone, request your report and you will receive the blueprint to becoming mortgage-free sooner!

Depending on whom you speak with; a residential mortgage is not considered a debt or liability, instead, it’s simply 'a means to an end'. Unless your last name is Trump or Rockefeller, you will need to secure financing from a bank or credit union in order to own your home.

If you asked me; a 30-year Wealth Management veteran; the ONLY answer from my lips will be; NO; Your residential mortgage is NOT a DEBT or LIABILITY. However; with astute planning (with the right professionals); you can structure your mortgage to benefit you financially, over and above the memories of family living. (You can turn your home into an income-producing asset)

With our brokerage; the day you secure your mortgage and move into your new home, is the day we begin working to pay off your ‘means to an end debt’ in as little as 12 - 15 years; NOT 25! (When we accomplish this objective, you will save tens of thousands)

Before we go further; let me make one thing very, very clear; the ONLY way to eliminate your mortgage is to add extra payments directed towards paying down your mortgage's outstanding balance. You cannot magically eliminate your outstanding mortgage; what you can do however is limit or deny the bank from the amount of interest being charged. (As opposed to a blend of 'high' interest and 'low' capital payments).

You can accomplish your mortgage paydown plan by a myriad of 'techniques'; you can simply pay your mortgage bi-weekly, switch banks (lower rate), secure a line of credit, refinance (or increase your mortgage balance), securing low-interest credit cards or purchasing very expensive software!

These options require discipline and your constant attention!

If you want to accelerate your mortgage elimination strategy, you need a formula which automatically generates a ‘personalized and unique’ monthly payment number; not an annual guesstimate.

Yes, we can use traditional privileges of topping up your annual payment by 10% or by making 13 months of payments every 12 months, however; after 29 years in this industry, know first hand; finding extra money is not that easy; finding an extra 10% is difficult; since that 10% can be $30K, $40K or more…

However, there is hope; introducing ‘The Mortgage Eliminator™’, the Money Cafe’sproprietary mortgage elimination software, which only needs 4 or 5 key tidbits of data to create a new amortization schedule, providing you with the formulae showing the minimal increments including a minimal inflation adjustment factor (if you would like to adjust for inflation; you don’t have to).

Not only will the Mortgage Eliminator™ create a new schedule, but it also provides you with the dollar amount showing your interest savings over the next 12 - 15 years and I can tell you, it’s in the tens of thousands; we even have field cases where the interest savings were over $100K. So, instead of padding the bank’s bottom line; we want you to pad yours; it’s that simple!

As much as there a myriad of videos showing you how to accelerate your mortgage and I must admit, they’re very tempting; every single video tutorial comes with astute discipline and attention. I don’t know about you, but I’m focused 200% on my wealth management practice and don’t have time to say, fix a faucet or take my car for an oil change; instead, I leave that up to the experts. If we tried to be a ‘jack of all trades’ I will guarantee you, you risk missing a microfiber, throwing you off your target.

YES; you can merge the functionality of the 3 accounts theory of a) switching banks (for a lower rate), b) securing a line of credit (if you qualify) and isolating a credit (new or existing) to this concept and initiate the process of moving money around on a month to month basis. Theoretically, it works!

Congratulations to the pioneers who created these strategies and my hats off to them; I’ve learned a lot; as I conducted extensive research prior to the creation the Mortgage Eliminator™ BUT, came to a conclusion, these strategies require discipline, a fool-proof system and a constant reminder.

Let’s face it, were ONLY human, with hectic lives and important responsibilities to fulfill, so why would I add to your workload by making you move money around several times every single month? God help you if you miss one or two steps…

Instead; allow the financial coaches of The Money Cafe™ to create your personalized Mortgage Eliminator™ report, including a revised schedule and the ONLY action required by YOU, the homeowner is to take your new schedule and instruct your bank to follow it to a tee.

Now, what if the bank gives you a hard time; it’s possible, after all, you’re actions are taking away humongous profits from them; take the ‘revised’ extra deposits and annualized them and pay that monthly amount with one annual payment; at the beginning every year and you will still accomplish your objective of being mortgage-free in 12 - 15 years.

Attention Realtors and Mortgage Planners: The Money Cafe™ fully understands and appreciates your respective roles, however, if your clients pay off their mortgages in record time, what will they do with the interest saving? If it was up to us, we would suggest they purchase a 2nd property for investment purposes (from you) and with that 2nd home comes a 2nd mortgage (from you). (Rinse and Repeat)

Depending on your (or your clients) current age; if you/they have the luxury of 25 - 35 years of active employment, you/they can own 2 - 3 homes using the interest savings of your CURRENT mortgage; allow us, the financial coaches of The Money Cafe™ show you how to help you (or your clients) build sustainable wealth by maximizing interest savings.

Let’s face it; Real Estate is the oldest and safest (all things being equal/doing your homework) investment we can ever make; it’s very difficult to move a home (to steal it ) or for its valuations to drop by 70% - 80%; not in Canada, the strongest G8 nation in the world, especially, with 300,000 new residents a year!

We see a bull trend (strong demand) for new homes; CREA has estimated we need to build 3,056,000 new homes to keep up with our targeted population of 63 million by 2056! So, my realtor and mortgage agent buddies; fear not; the future is brighter than the midday sun!

For more info; contact us at riyadm@themoneycafe.ca and begin your Mortgage Elimination journey; guess what? At the very least; we're going to save you tens of thousands in wasted interest payments. You can either go online at www.themoneycafe.ca and fill out an Inquiry Form or email us.

Make today; the 1st day of your Mortgage Freedom Day!