Paidoff™ (303-870-8337) has launched a new program that helps borrowers pay off their mortgages much faster than they would a conventional 15-year or 30-year loan.
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Paidoff™ uses a 30-year line of credit and is the only new company authorized to offer this type of HELOC loan in the US so Coloradan homeowners can pay off their mortgage Much Faster©.
Further details are available at http://thepaidoff.com
The new 30-year first-position HELOC takes inspiration from the home loan products used across Europe, where 40% of mortgages are repaid in less than the standard 30-year loan period. In the United States, however, that figure is closer to 1% of mortgages repaid in the same time frame. According to Paidoff™, this is because of the constraints inherent to the traditional mortgage model used by most American lenders.
“Usually, a homeowner’s monthly payment goes towards paying the interest on their loan, meaning that the bank benefits but the homeowner does not,” explains Paidoff©’s founder, Irina Saveliev, also known as The Mortgage Breaker. “You’re making payments, but you still owe the majority of your loan. Carrying on in this way, it will take decades to regain your financial freedom!”
The Paidoff™ 30-year first-lien HELOC differs from traditional fixed, jumbo, and ARM loans in that its payments are applied to the principal first and the interest second. This means that the mortgage can be paid back Much Faster©.
This HELOC combines their mortgage and personal finances into one account. Since all cheques and deposits a homeowner receives will go directly into this account, payments can be made more frequently, without the bank-imposed limits associated with traditional mortgages.
Some American lenders may allow mortgage recipients to make bi-weekly payments, effectively granting an extra payment each year. However, this often results in only 3 to 5 years being cut from the total repayment schedule. On the other hand, the Much Faster Formula© helps homeowners pay off their entire mortgage in 3 to 5 years.
The Paidoff™ 30-year HELOC further benefits homeowners by enabling access to an extensive line of credit, up to hundreds of thousands of dollars, for 30 years. Any expenses associated with remodeling, renovations, or upgrades to the home can be paid for without an additional loan against the home’s equity.
Those interested in becoming mortgage-free sooner, and exploring the full range of benefits available when refinancing to a 30-year HELOC, are encouraged to contact Irina The Mortgage Breaker at Paidoff™ by calling 303-870-8337 or visiting https://thepaidoff.com
Contact Info:
Name: Irina Saveliev
Email: Send Email
Organization: Paidoff
Address: 600 South Cherry Street Suite 143, Denver, COLORADO 80246, United States
Phone: +1-303-870-8337
Website: https://www.thepaidoff.com/
Source: PressCable
Release ID: 89136080
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