• Home
• Content
• News
• Recommend Us
• Surveys
• Top 10
• Advertise

Today's Article

Title: Save Thousands On Your Mortgage Author: David Berky

Interest on the average home mortgage will cost the homeowner nearly TWO TIMES the cost of the home.

If you were to purchase a $150,000 home with a $120,000 mortgage (80%), and you paid an interest rate of 9% for 30 years, you will have paid over $227,500 just in interest (in addition to the original $120,000). That's nearly two times the cost of the home!

A credit card debt of $7000 (now the average) at 18% being paid at the rate of $20 principal plus interest each month will take over 29 YEARS to pay off, almost as long as a home mortgage. Interest charged on this credit card debt will top $18,400, more than 2.6 TIMES the original debt!

If you work for a living, you know that when you are not working, you are not getting paid. But interest never gets sick, never takes a vacation and never sleeps. It is working against you 24 hours a day, seven days a week, each and every day of the year.

So what can you do?

You may not be able to pay off your debts or mortgage now. You may not have enough equity in your home for a loan. You may not be able to afford the efinancing costs or home equity loan costs. You may not be able to lower your credit card interest rates.

But you can make additional or extra payments.

Read more:
http://www.prmortgage.net/directory/modules.php?name=Content&pa=
showpage&pid=3

Links Main Categories

There are 18 Links and 7 Categories in our database