Finance Articles

Durling Financial Releases The Mortgage Minder System

Norwich, CT (PRWEB) June 4, 2007 -- Durling Financial releases The Mortgage Minder System to pay off your home loan in almost two-thirds of the time.

If the average homeowner with a mortgage of $125,000, can save as much as $33,000 on the mortgage over the life of the loan and all of this can be accomplished without:

* Refinancing
* Qualifying
* Appraisals
* credit reports, or
* any real estate fees.

Is there any reason why anyone should pay back the bank $2.50 for every $1.00 that's borrowed on a home mortgage? Sad, but true, 95% of homeowners are doing just that and don't even know it. It has been said that, "This can't be true!" Let's look at a typical example:

If a person has a $125,000 mortgage at 7.5% interest for 30 years, the monthly payment for principal and interest is $874.02. Over the entire life of the loan he/she would pay back a total of $314,646.53.

Look at those figures again. Someone has just paid more than $2.50 back for every $1.00 he/she borrowed. Shocking, isn't it? Of the $314,646.53 in total payments, $125,000 paid off the principal and $189,646.53 was paid for interest. Reason: In a mortgage's early years the payment does little to reduce the principal and even after 10 years of payments, most of the monthly payment goes towards the interest and very little towards the principal.

Can the bank do this? Yes it does happen. Can anything be done about it? Yes!... just add a little to the monthly payment and the savings will be astounding.

Let's use the sample mortgage above of $125,000 with payments of $874.02. If $44.00 is added to the regular monthly payment, the savings will be approximately $34,000 in interest and pay the house off 5 years sooner. Going a step further, add $88.00 (10% of the payment) to the regular monthly payment and save over $57,000 in interest and pay the house off in 22 years instead of 30 years. The savings are astonishing!

Its simple mathematics and the sooner it's started the sooner the savings will be realised.

The Mortgage Minder System shows how and why it can prepay VA loans, FHA loans, conventional loans, even loans on cars, boats, motor homes, college tuition, and other consumer loans. Complete step-by-step instructions with samples, examples, and loan payment tables which will show the enormous savings that can be achieved on the mortgage and answer all questions. A computer printout customized to an existing mortgage, showing the exact savings that can be realized depending upon the amount of prepayment added.

Business Week says, "A considerable amount of money can be saved by prepaying". Prepaying the mortgage is also recommended by the editors of Forbes, New York Times, Sylvia Porter's Personal Finance, and many other publications. The bottom line is that a fortune can be saved and The Mortgage Minder System will show how this can be done. This special limited time offer may not be repeated. Regular price ($59.00). SPECIAL LIMITED TIME OFFER $29.00. For a copy of The Mortgage Minder System send check, cash or money order to our agent listed below:

Durling Financial
www.durlingfinancial.com
323 Harland Rd , Norwich, CT 06360

http://www.prnewsdistribution.com

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