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Is your mortgage balance now higher than the value of your home; are you now “under water”? Are you still paying your mortgage and want to stay in your home?
If so, there is a life belt to help you recoup the equity you’ve lost!
Negative equity is not a limiting factor!
With mortgages typically spanning many years, there is more than enough time to take action to reduce the total interest you pay over the life of the loan, by dramatically reducing the time you take to pay it off. At current rates on 30 year mortgage, the interest you pay is very close to the original mortgage amount. If you’ve lost 25% of your equity value and your mortgage is now underwater, then take steps to reduce that large amount of interest you will pay to effectively recoup some of that lost equity.
Using the United First Financial® Money Merge Account® system, you have the potential to drop your interest paid to a fraction of the original amount you are scheduled to pay.
For more information, read our explanation.
Money Merge Account system is part of the UFirst strategy to improve the financial landscape in North America.
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