Are you suffering each day because you’re stuck in a 4×4 concrete room and all you can do is peer out the window and see people, who are otherwise just like you, washing their new cars in front of their gigantic mansions?
You may not be able to see or feel it, but you’re handcuffed right now. You’re trapped trying to pay off your home on an income that can barely cover it.
It’s something that plagues the masses, leaving only the enlightened few to truly enjoy the fruits of life. Those people used to be like you, but then they discovered how to melt their handcuffs down into golden Rolexes…
I once was handcuffed and confined to a tiny room just as you may be now. I hadn’t yet discovered the path to my millions, and instead was simply struggling to pay bills on a small income.
It’s like suffocating in quicksand, isn’t it?
The more you try to climb out of the hole, the farther down your pulled by your surroundings.
I’ve had so many students (too many to count) come to me with this predicament in the form of trying to pay off their home.
The loan payments are the handcuffs. Now it’s time to melt them down and actually use them to create wealth…both now and in the future.
Your Rolex of the present
The Rolex you’ll be proudly wearing around your wrist represents the cash money you’ll be generating just by knowing what move to make. And to do so, we’re actually going to take the handcuffs (the loan) and melt it down (change it in some way).
For many, the handcuffs are on when the loan payments are getting so overwhelming that something as serious as foreclosure is a possibility, but what I’m about to share may be the right option for those who simply want to have more cash now.
And that option is a loan modification.
As a modification to the terms of the loan you already have, you can find a way to lower you monthly payments and create cash for you to use now.
The first step is to talk to your lender, whom you may be surprised to find is much more willing to work with you on a modification due to the motivation put in place by government programs, like the Making Home Affordable Program.
Let’s say the adjustment is to turn the 30-year loan into a 40-year loan with a modified interest rate. That alone could mean a $400 payment turns into a $300 payment each month, for example.
By melting down the high loan payments and creating that extra cash in your pocket each month, you can begin to feel the freedom…
Your Rolex of the future
And I also want to show you how to turn your handcuffs into an even nicer watch down the line!
All you have to do is at least 1 of 2 things:
1. Start paying weekly instead of monthly
2. Start making 1 extra payment each year
This may not sound like much, but you can make a huge difference with these simple strategies.
If you take a $4,000 monthly payment and spread it out into 4 weekly payments of $1,000, you can still make the full payment in time AND you’ll pay less interest since much of the payment will be made earlier on each month!
More of your payment will go towards the principle of the loan, slicing years off of the loan’s life!
That’s THOUSANDS you’ll end up saving over the course of the loan…
And the other simple strategy of making an extra payment each year will also cut years off of the life of your loan, meaning less interest paid over the long-term and getting rid of the shackles years earlier!