| Given the current state of mortgages in this country, | | | | homeowner's insurance premiums or to pay real |
| lenders are reacting by tightening up guidelines with | | | | estate tax bills - notwithstanding unexpected home or |
| respect to obtaining mortgages. There is some help for | | | | car repairs! Add to that the other problem so many |
| individuals struggling to make ends meet in this declining | | | | individuals are facing nowadays - the issue of |
| economy. If you are someone who has not stripped | | | | uninsured medical expenses or having to obtain |
| out the majority of the equity in your home, the often | | | | prescription medication without medical insurance. |
| misunderstood home ownership accelerator could help | | | | Simply write out a check from your account for those |
| many during this very tight time. With very few "cons" | | | | necessary and very important expenses. |
| and so many "pros", I wanted to outline the highlights | | | | Advantage No. 3: |
| and some uses: | | | | In the market for a new car or some other major |
| Advantage No. 1: | | | | purchase? Anyone with an equity accelerator |
| Are you a commissioned income professional? This is | | | | mortgage can simply pay for a major purchase out of |
| the best equity loan product for someone who is | | | | the mortgage-connected checking account. Why open |
| working a commission job! Because you are never | | | | another line of credit with a higher rate of interest? |
| making a true mortgage payment, and there is no | | | | Why commit to another loan for another 48 months or |
| need to write out a check or earn the monies you | | | | even longer? It is unnecessary when you have the |
| need to meet your mortgage obligation, you can rest | | | | home ownership accelerator. Since interest is |
| easy while in this loan product while trying to keep up | | | | calculated daily, and so much is applied to the principal |
| your other monthly obligations. | | | | as a result of the equity accelerator account, this is the |
| Also, not having to make a deposit into the checking | | | | most financially savvy way to make a large purchase |
| mortgage account for the product to continue to work | | | | as the purchase will be paid off much faster than a |
| its magic (that "magic" is paying off your mortgage | | | | traditional car loan. Whenever you have debt paid |
| sooner), you can still use the product even while | | | | back in a shorter amount of time, less money is |
| making periodic deposits into the account. The | | | | wasted on interest, and that results in money saved |
| pressure is off when it comes to making enough | | | | by the consumer. |
| commission in any given month to actually meet all of | | | | Advantage No. 4: |
| your expenses - to include a mortgage. Taking the | | | | As long as you are in good standing with the loan |
| pressure off in slow months is not the only benefit for | | | | servicer, you need never worry about losing access to |
| the commissioned professional. It will also preserve | | | | the account. Since this type of loan shows as a |
| your credit rating - - no late or missed payments | | | | mortgage account on your credit report, you do not |
| means a protected credit score. | | | | ever need to worry about losing access to the |
| So, this is a great product for anyone working | | | | account or funds. If a judgment or any kind of |
| commission-structured positions, be it a realtor or even | | | | collection or lawsuit results in your bank accounts being |
| a mortgage broker ! | | | | frozen or seized, this account will not be among them. |
| Advantage No. 2: | | | | You still have a place to deposit all income and |
| With this type of mortgage loan product, you will have | | | | maintain full access to your funds, regardless of your |
| access to a great deal of your equity (the checking | | | | current situation. |
| account that is directly connected to your mortgage | | | | Advantage No. 5: |
| where you are depositing your income to have it | | | | Best advantage of all: Pay off your mortgage in half |
| applied to your principal), and that can be of great help | | | | the time or less of that of any other mortgage product |
| - - with careful discretion. You don't have to worry | | | | out there ! |
| again about having enough funds to maintain | | | | |