The Mortgage Accelerator: The Complete Guide to Understanding this popular method of paying your Mortgage in 7 to 10 years.

Product Description

The Mortgage also known as a Australian Mortgage Accelerator is a unique type of mortgage where the borrower is able to make maximum repayment every month to ensure that the mortgage is paid off in the shortest possible time. If used appropriately one can complete the repayments in a third of the time that it takes using regular mortgage loans. It originated in the late 90s in Australia and has been used in several other countries. Here a home equity line of credit (HELOC) is created as a primary mortgage. The bank creates an account tied to the HELOC which replaces the usual savings and checking account of the borrower. Every month the borrower deposits his paycheck into this account. The mortgage payments are made automatically through this account. For all the expenses this account is used either through an ATM or check book. Hence this account is used for all the day to day expenses of groceries, gas, utilities or other miscellaneous expenses. What you will learn in this book: Detail explanation of the whole process which includes graphs and spreadsheets Pros and Cons of using this Mortgage Accelerator Avoid scams by companies that will sell you software that cost thousands of dollars Alternatives to the Australian Mortgage (if you are not ready for it) Useful Tips to find an Ideal Mortgage Tax Implications of the Australian Mortgage Word of Caution and understanding all the Options