Inner Entrepreneur Magazine - Issue V-1256

 

Inner Entrepreneur Magazine COVER Page
FULL PAGE ADVERTISERS
How YOU Can Advertise
In This Magazine




Mortgage Cycling Secrets Revealed

Have you heard about mortgage cycling? Maybe you've seen the ads for books on this "secret technique" for paying off your mortgage sooner. Is there some useful information in them? Yes, especially if you are not familiar with the basic premise that you can pay extra principle every year and you'll pay off the loan sooner and save thousands on interest.

Mortgage cycling is dressed up as a "new" system, and of course there are many little tricks to doing this most effectively. There are more risky techniques too, like using short-term home-equity loans to pay down your primary mortgage now. This latter technique could cost you more in interest or even put you into financial trouble that leads towards foreclosure.

The safest way of "mortgage cycling" is to just put large lump sums of money towards your mortgage loan every few months to a year. Pay thousands of dollars extra per year, and you will pay off your loan many years sooner. No surprise there, right, but what if you don't have the hundreds of dollars a month extra needed to do this?

Money For Mortgage Cycling

Don't assume you can't come up with SOME extra money, at least each year. Some will say they can't, and yet still add hundreds of dollars per month to credit card payments from buying anything from expensive shoes to snowmobiles. There's nothing wrong with buying these things, but the choice is yours if you want to pay down that mortgage instead.

You can also pay off large chunks of principle by using your annual tax refund, insurance settlements that are not otherwise allocated, and any cash gifts or prizes you may receive.

How much sooner you can pay off your mortgage depends on how much extra you pay and when. The sooner you pay extra money towards the principle, the better. Let's demonstrate with a simple example, just making an extra payment each month.

Suppose you have a $160,000 30-year mortgage at a 7% annual interest rate. Regular monthly payments would be $1064.40. If you looked at your second payment you would see that it's composed of $932.57 interest and $131.83 principle (the amount you actually pay down the loan). Just add $131.83 to your normal payment of $1064.40, and you have taken an entire month off the time it will take to pay off your mortgage.

If you did this each month, you would cut the time to pay off your loan in half. The principle part of the payment would be growing with each payment, so the extra payment would be a little more each month (around $137 by the end of the first year), but hopefully over the years your income will rise enough to afford that. Consider that if you pay normally, your last year of the mortgage you'll pay $12,772.80 ($1064.40 x 12 months). On the other hand, pay about an extra $1600 that first year, in the way shown above, and you'll eliminate that entire last year - a savings of over $11,000!

Other ways to pay off extra principle need to be evaluated carefully. You could, for example, put a few thousand of your savings towards the loan now and save perhaps tens of thousands in interest over the years. However, will you then need to pay even higher credit card rates because you emptied your savings account and need some money? You could cash in stocks and apply the money to the loan, but will you be giving up a 9% return to pay down a 7% mortgage? You may also want to consider paying off any debts with higher interest rates before you apply extra money to your mortgage.

To keep it simple, set aside extra money every month and apply it to the loan. Then use any other money that may otherwise be squandered (like tax refunds). If you just do a few simple things to pay something extra on the loan each year, and you can forget about complicated mortgage cycling plans.




 

Inner Entrepreneur Magazine
FULL PAGE ADVERTISERS

._0-WANT_TO_PURCHASE_ MINERALS_&_OTHER_OIL_&_GAS _INTERESTS.pdf
0-ANTHONY-JOHN.pdf
0-DANNY-DEJESUS.pdf
0-JCPatton.pdf
0-WANT_TO_PURCHASE_MINERALS_&_OTHER_OIL_&_GAS_INTERESTS.pdf
00-D-BROWN.pdf
00-DALTON-BLUETOOTH INNOVATIONS.pdf
00-DALTON-WANTED POSTCARD MAILERS.pdf
00-G-MARTIN.pdf
00-J-HURLEY-2.pdf
00-J-OWENS.pdf
00-JJ-GARNER.pdf
00-R-Peterson.pdf
00-Vaught.pdf
00-Wrightsco-com.pdf
00-d-balderstone.pdf
00-d-nicholls.pdf
00-m-bugarini.pdf
00-m-derrick.pdf
00-r-vandergrift.pdf
00-s-frescas.pdf
00-w-powell.pdf
00_OIL_&_GAS _INTERESTS.pdf
01-AARON-BRYANY.pdf
01-D-Foley.pdf
01-DEL-PILAR.pdf
01-J-HURLEY.pdf
01-Slaton-Eison.pdf
02-Brite-Star.pdf
03-Brite-Star2.pdf
11-Dalton 10 2019.pdf
77-h-clay.pdf
88-BD-JOHNSON.pdf
88-D-Baker.pdf
88-J-SMITH.pdf
88-d-nicholls.pdf
88-eMclvor.pdf
88-h-clay.pdf
88-j-orlando.pdf
88-l-domerson.pdf
88-l-gaines.pdf
88-m-bugarini.pdf
88-s-frescas.pdf
99-A-Moore.pdf
99-E-Bynum (2).pdf
99-E-Bynum.pdf
99-H-Clay.pdf
99-J-SMITH.pdf
99-JC-Patton-Mail-Lists.pdf
99-JCPatton.pdf
99-Monique's Mail (2).pdf
99-Monique's Mail.pdf
99-R-Peterson.pdf
99-c-vandergrift.pdf
99-j-orlando.pdf
99-j-skuse (2).pdf
99-j-skuse.pdf
99-jj-jones.pdf
99-l-domerson.pdf
99-l-gaines.pdf
99-r-vandergrift.pdf
99-wrights.pdf
A-Moore.pdf
BD-JOHNSON.pdf
FRED-HINSTON.pdf
MAKE-MONEY.pdf
STS212.pdf
STS213.pdf
STS213a.pdf
STS214.pdf
STS215.pdf
STS216.pdf
STS217.pdf
STS218.pdf
WANT_TO_PURCHASE_MINERALS_AND_OTHER_OIL_&_GAS_INTERESTS.pdf
Your-2018-ADSHEET-DIRECTORY1.pdf
Your-2019-ADSHEET-DIRECTORY-ctm.pdf
Your-2020-ADSHEET-DIRECTORY.pdf
c-vandergrift.pdf
sam-scruggs-21.pdf

 

WANT TO PURCHASE
MINERALS AND OTHER
OIL/GAS INTERESTS.

Send details to:
P.O. Box 13557
Denver, CO 80201


Current Issue of 04/09/2020

Earn CASH from this ad and hundreds of others! $5680

paid out in the first month! FREE info pack:
DME, PO Box 366, Sandpoint, ID 83864

205


WANTED!
CLOSEOUT-FINDERS.

Work In Your Spare Time From Home.
Earn $1,000+ Weekly.
NO Selling.
Free Report: Call 1-800-943-7203
Or
Visit Our Website At:
www.easyprofits123.com
Ref. Code 56035

23


FREE MONEY


46


FREE MONEY


46



84


Exciting Magazine Worth Having
SHORE TO SHORE

Reliable service, Best of the Best
Offers, Info, Ad Specials!
Will you have the next
great issue!
One year subscription only
$20 + LSASE to:
Ed O'Blenis
POB 524164/Stadium
Bronx, NY 10452

61


YOURS IN HEALTH, WEALTH AND WELLNESS,

WWW.TimeFreedomRings.com /P1033
WWW.5050Fifty.com /P1033
WWW.Move2Pure.com /P1033

162


ULTIMATE HOME PUBLISHING CD

Over 30,000 reports, MB of software,
thousands of postal & e-mail addresses
and much more!
For your own
"Ultimate Home & Internet Publishing Portfolio CD"
with unlimited duplication
and resell rights + a sales circular,
Rush only $39.95 by check or M.O. to:
HAROLD BOSI
PO Box 35-188
Elmwood Park, IL 60707

26


THE $500.00 A DAY PLAN


129


ADVERTISE
TO
INTERNET MILLIONS

Only $19.95 for
54 Words or Less.
Expect Amazing Results.
DIRECTORY
POB 661
DALLAS, GA 30132
www.DomainWealthSites.com/9032.html


54


FOUNTAIN OF YOUTH DISCOVERED!
Along With Ways To Make Money Fast!

Imagine living to be 100,
looking half your age, disease free.
No more sickness, doctors,
medicine, hospital bills.
Prevent colds, flu, diabetes,
cancers, high blood pressure
and more.
My report reveals the secrets.
Plus, a Free bonus report.
Send $5 to:
BOYD CORBETT
HC 66, BOX 361
SPENCERVILLE, OK 74760

39


Bluetooth Innovations. BLE Proximity Marketing Beacons.

Where Marketing and Technology Meet! www.bluetoothinnovations.com/PD455.
203


$750 MONTHLY OR MORE!

Work At Home No Assembly, Meeting.
Receive Money Daily.
For Info, Send $2.00 LSASE To:
LEROY TAGGART.mom
233-01 MENTONE AVE.
LAURELTON QUEENS, NY 11422

41


FREE Goldmine Opportunities Directory CD

100's of the latest money making programs listed +100'S of business eBooks included! Reg. $25 price, yours FREE, just send $5 for S&H to:
Harold Bosi
P.O.BOX 35-188
ELMWOOD PARK, IL.60707

68


RECEIVE YOUR FREE PUBLICATIONS!
The Free Publication "Directory."

Our Directory Lists Over 40 Publications That You Can Receive For FREE!
Request Your Free Copies.
Send 2 F/C Stamps to:
NSL
P.O.BOX 763
GOLDSBORO, NC 27533

62


FREE CASH!

Send me $3 for details on how you can get lots of it!
JACKSON
1259 EAST 58th. STREET
LOS ANGELES, CA 90011

125


TURN $7 INTO $19,659

Per Month! Listen To Message:
(512)-505-6850
PennyMatrix.com/mitchell

57


MAIL KING PLAN
FREE NAMES, STAMP & MONEY


136


FOUNTAIN OF YOUTH DISCOVERED!
Along With Ways To Make Money Fast!

Imagine living to be 100,
looking half your age, disease free.
No more sickness, doctors,
medicine, hospital bills.
Prevent colds, flu, diabetes,
cancers, high blood pressure
and more.
My report reveals the secrets.
Plus, a Free bonus report.
Send $5 to:
BOYD CORBETT
HC 66, BOX 361
SPENCERVILLE, OK 74760

39


MERCHANT ACCOUNT

Interested in switching your merchant
account or setting up a new account.
Visit NOW! Mention ID # 16425
www.MrpREBATE.com

16




75


$$$$ EARN $$$ THE CHRISTIAN WAY! $$$$

Spread the Word and earn money.
God wants us to prosper.
Rush $3 and 3 stamps to:
MYRNA L. MILES
2558 MOYERS RD.
SAN PABLO, CA 94803-3102

178


PRETTY BABY!

Hand & Body Lotion
Bath & Shower Gel Products
Made For A Smooth, Touchable You!
8 Oz. Set $29.00
WHITE SWAN
PO Box 303
Randallstown, MD 21133
Who's Baby Are You?

13


EARN BIG MONEY


181




    


images_article



images_horiz_220x90



images_horiz_468x60



images_horiz_728x90



ad_images_mini



images_square

images_vert


Inner Entrepreneur Magazine

Inner Entrepreneur Magazine - COPYRIGHT - ALL RIGHTS RESERVED