If You Have Already Reached Your Goals, You Set Them Too Low In The First Place!
Home / Archives /

Bookkeepers & Accountants

Bookkeepers & Accountants / 6 posts found

Leakages Hurt HELOC by slowing the payout of Mortgage

Leakages and How They Hurt Part 1

18/09/2017 @ 3:03 pm
by David_Seamans
Comments are off for this post.
Leakages are those outgoings that are paid for in cash and do not assist in the Home Equity Line of Credit process. Paying in “Cash” includes anything that you do not put on credit card and thus prevents that cash being put against your mortgage. If there is a first objection that arises when a client starts to adopt the HELOC philosophy it is that they have to have cash “in pocket’ for those miscellaneous expenses. This is realistic but you want to minimise this amount as every dollar NOT put against HELOC increases the interest accrued on the mortgage. […]
Offset Accounts are Useless

Offset Accounts Overpromise and Underdeliver

04/09/2017 @ 3:04 pm
by David_Seamans
Comments are off for this post.
I have provided a couple of calculators in this blog to highlight the relevants and irrelevants (yes,those are nouns) of a mortgage. There are three components to any mortgage: Principle outstanding Duration of Principle Outstanding and Interest Rate Previously I have been able to exhibit that the interest rate has the least effect. So it would be logical to work with the balance of the mortgage outstanding and the duration that balance is outstanding. You can play with the calculators and derive your own results easily. But now another distraction is thrown up: The Mortgage Offset Account Here’s how it […]
Smart Credit Card Useage

Highlights and Warnings: An Open Discussion

06/04/2017 @ 3:20 am
by David_Seamans
Comments are off for this post.
READ THIS BEFORE YOU DO ANYTHING Typically, you are now walking around wondering why the Home Equity Line of Credit is not in place for everyone if it is so effective.  You will hear a lot of people give their opinion. But you have a non-opinionated spreadsheet in your hands using the numbers that you provided.  The results are obvious – or are they? What is really happening here? What are the “pitfalls”? Are those pitfalls really areas that you can get in trouble with? So let’s have it.  The Highlights & Pitfalls: An Open Discussion and be frank about […]
Keys to your own home

How To Pay Off Your Mortgage in Half The Time – Pt 2

01/04/2017 @ 12:53 am
by David_Seamans
Comments are off for this post.
You have seen what is possible in Part 1; now learn the technique of how to pay off your mortgage in half the time PAINLESSLY Think of your property as a big credit card. This is not too hard as the bank: creates a statement that shows charges like interest and bank fees, and receipts which are your mortgage payments. (Interesting that the bank rarely, if ever sends out this statement as they do not want you to see it.). gave you the mortgage because they thought you could afford it – which is identical to why they gave you […]
Paid Off home

How To Pay Off Your Mortgage In Half The Time – Pt 1

27/03/2017 @ 12:36 am
by David_Seamans
Comments are off for this post.
Photo By Sardaka (talk) 08:26, 30 December 2014 (UTC) – Own work, CC BY 3.0, Link     What if you could pay off your mortgage in half the time and still have your mortgage money available to go on holidays, buy your vehicles, provide the education for your children or whatever you want? And you could continue to build your real wealth. It is called the Home Equity Line of Credit. And the banks do not want you to have it. Why? I have had two bank managers tell me to my face that “the bank feels it is […]