If your tired of making endless mortgage payments and never seeming to make a difference in your principal balance, it’s time for you to get from under your “mortgage lenders death grip”.

And one of the biggest steps that’s hard for most people to make - but necessary if you want to cut down your mortgage payments and shave years off your loan is to…

Pay more than the minimum payment expected of you to pay.

Lenders bank on you to pay the minimum balance you agreed on before getting the keys to your home and nothing more.

They know if they increase the interest fee’s, boost the loan life terms and decrease the minimum payments you have to pay each month to keep your home or get a new one, you’ll be happy to move into your new place, no questions asked.

You should pay more than the standard 2% to 3% of the loan. Anything less than 3% and your paying off more interest than you are principal. It’s like playing Russian roulette with a sawed off shotgun  - your bound to shot yourself in the foot and walking with a permanent financial limp.

So, to avoid playing this stressful cat and mouse game, instead of paying $1000 a month, pay at least $1250 - or better - double it to $2000 a month.

Don’t be fooled thinking you don’t have extra money lying around because you do.

One way to cut down on expenses and increase income is to do more home cooked meals, or get rid of cable/satellite TV.

You can hold yard sales - or better - start an eBay business by first selling some unwanted things around your attic and cleaning out your garage.

Who knows, you might get bitten by the eBay bug. Soon, you’ll make more money than you need to pay off not just your mortgage loans, but any other outstanding debts you may have plus a little extra to go on vacation and possibly quit your job.

No matter what direction you take, you have to take action to get results you want. Don’t wait for someone else to come along and release the “death grip” for you.

There are good free report that I’ve read and recommend that’ll show you possibly the fastest  way to get rid of your debt faster than the speed of sound.

The report is called …”The Truth About Your Mortgage…And The Lies That Are Costing You Money”

It’s a great read, and I have no doubts you’ll get as much benefit (if not more) out of it as I have.







Stop letting your mortgage lender rip you off. Reduce your mortgage by 20 years plus using this simple mortgage reduction plan

Article Source: http://www.synarticles.com/authors/10870/ryan-dave