Get Out Of Debt
The bible says: Romans 13:8 "Owe no man anything..."Here is an example situation that you might find yourself in, or someone you know.
Your monthly income is $4,700
Your Expenses not include mortgage is $3,000
Mortgage: $200,000
Interest Rate: 6.375%
Term: 30 Years
Payment: $1247.74
So total Expences for the month would be $4247.74, which leave about $450 extra money per month.
Here is what that $450 extra a month can do:
With our plan you can expect to pay off your home in 15.50 years and save a total of $133,877.96 with an effective interest rate of 3.299%!
This is one of the best ways you can use your extra money to get out of debt, this can be used for any type of loan.Total savings is calculated by subtracting how much you would pay in interest with the accelerated plan ($115,308.13) from the interest you will pay on your traditional plan ($249,186.09).
DISCLAIMER: This is only a rough estimate and it should not be assumed that your results will be identical.