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HEC Home Equity Conversion Ltd.







UnMortgage411


Before we begin, we need to understant the word mortgage.

Mortgage - 'mort' is the latin root for death, 'gage' is pledge with one's life. So a mortgage is a death pledge.

Mortgagee - is the lender. They like to say, 'gee' it is nice that you pledge to pay for the rest of you life.

Mortgagor - is the borrower. The bible tells us that the borrower is a servant to the lender.


How to save on your mortgage (from Conventional Wisdom)

Let's take a look at the cost of paying off a $435,000 mortgage, based on a fixed rate at 6%, and what you could save by adding $2.48 - the cost of a cappuccino and doughnut - per working day to the payments.


Amortized over 25 years
Frequency Amount Time Total Interest Savings
Monthly $3,045.52 25 yr $478,440.86 nil
Weekly $761.38 20 yr 6 mt $374,361.93 $104,078.93
Amortized over 40 years
Monthly $2,669.87 40 yr $846,325.52 nil
Weekly $667.47 28 yr 8 mt $559,651.07 $286,674.45
Extra payments (amort. over 25 yr, add $53.73/mt or $12.40/ wk)
Monthly $3,099.25 23 yr 10 mt $453,282.24 $25,158.62
Weekly $773.78 19 yr 9 mt $359,438.39 $119,002.47
Extra payments (amort. over 40 yr, add $53.73/mt  or $12.40/wk)
Monthly $2,723.60 36 yr $751,606.64 $94,718.88
Weekly $679.87 27 yr 2 mt $523,472.39 $322,853.13


If you feel this is impressive, wait till you see our mortgage termination program with our exclusive insider secrets (Secrets that no Bankers would reveal). Along with the tax deductions and the power of compounding ...    more

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