Mortgage Saver iPhone Application
Mortgage Saver iPhone Application has been launched! The Mortgage Saver is the first calculator designed to stop repossessions and foreclosures.
There are four groups of people that this calculator is intended to help. We all lose when homes are repossessed or foreclosed. Relationships are destroyed and communities are broken. When the lenders take back homes, local values in your area drop.
Who will gain the most from the Mortgage Saver?
1. Homeowners who are struggling with home mortgage payments. You will see three different payments that will pay your mortgage in full. You will see a 3,4 and 5% annual increase in your payments. You can start with any payment, and use any rate of increase in your monthly payment. You will instantly see if you can pay your home mortgage loans in full.
2. Investors and homeowners who have interest only payments. You took the mortgage out in a rising market, now you are afraid. Using this calculator will show you what you need to do to pay the mortgage in full starting with your normal interest payment.
3. You want to save money by paying down your mortgage. This is a unique way to achieve your goal of a faster pay down.
4. You have a growing income. As your income grows you increase your monthly payment.
You can use this home mortgage calculator to negotiate with your lender. You tell them what you can afford, and you show them how your mortgage will be paid in full.
Where do you start?
You can start with your ideal payment and your home mortgage rate. The increase is once a year. Now you can compare this to a second option. What happens if you pay a smaller payment with a longer mortgage term? This calculator is designed to help you stay in your home.
Can you look at charts?
Yes, you can see simple to understand graphs.
What happens if there is a dramatic increase in your income?
This happens when you go from being unemployed to being employed or you get a promotion. Many couples borrowed with two incomes but now they are struggling with only one income. This calculator shows you how to pay your mortgage in full with your current income and it allows you to make many changes.
What changes can you make to your calculations?
· You can change the interest rate at any time during your mortgage. Many of us have adjustable or variable interest rates.
· You can change the mortgage term.
· You can change your monthly payment. You will do this if your income increases. This helps you negotiate a better deal with your lender if you are struggling today. You are saying that when my situation improves I will pay more and this review will be part of our agreement.
· You can make a lump sum payment and use the advanced option. This is vitally important because you may be expecting a bonus or inheritance. Also many lenders may ask you to sell assets. You will be able to see what happens if you do this.
· You can set a maximum payment. This means that you can set realistic goals, and then you can achieve them.
· You can compare and contrast all of these simple changes that are created to help you.
You need a willing lender and borrower to work together. If you are willing to work with your lender to pay your mortgage in full you will be able to hold onto your home or investment property.
What happens if you do not pay your mortgage in full?
Look at the amortisation table. It will show you how much you will still owe. This balloon payment may be acceptable to you, if not make a small change and see what happens. What if you sold some assets and made a lump sum payment? What if you made a small increase in your monthly payment?
What do you do now?
For the mere price of a cup of coffee you can save your home or you can save thousands in interest charges.
http://www.facebook.com/GMApps
Mortgage Saver iPhone Application has been launched! The Mortgage Saver is the first calculator designed to stop repossessions and foreclosures.
There are four groups of people that this calculator is intended to help. We all lose when homes are repossessed or foreclosed. Relationships are destroyed and communities are broken. When the lenders take back homes, local values in your area drop.
Who will gain the most from the Mortgage Saver?
1. Homeowners who are struggling with home mortgage payments. You will see three different payments that will pay your mortgage in full. You will see a 3,4 and 5% annual increase in your payments. You can start with any payment, and use any rate of increase in your monthly payment. You will instantly see if you can pay your home mortgage loans in full.
2. Investors and homeowners who have interest only payments. You took the mortgage out in a rising market, now you are afraid. Using this calculator will show you what you need to do to pay the mortgage in full starting with your normal interest payment.
3. You want to save money by paying down your mortgage. This is a unique way to achieve your goal of a faster pay down.
4. You have a growing income. As your income grows you increase your monthly payment.
You can use this home mortgage calculator to negotiate with your lender. You tell them what you can afford, and you show them how your mortgage will be paid in full.
Where do you start?
You can start with your ideal payment and your home mortgage rate. The increase is once a year. Now you can compare this to a second option. What happens if you pay a smaller payment with a longer mortgage term? This calculator is designed to help you stay in your home.
Can you look at charts?
Yes, you can see simple to understand graphs.
What happens if there is a dramatic increase in your income?
This happens when you go from being unemployed to being employed or you get a promotion. Many couples borrowed with two incomes but now they are struggling with only one income. This calculator shows you how to pay your mortgage in full with your current income and it allows you to make many changes.
What changes can you make to your calculations?
· You can change the interest rate at any time during your mortgage. Many of us have adjustable or variable interest rates.
· You can change the mortgage term.
· You can change your monthly payment. You will do this if your income increases. This helps you negotiate a better deal with your lender if you are struggling today. You are saying that when my situation improves I will pay more and this review will be part of our agreement.
· You can make a lump sum payment and use the advanced option. This is vitally important because you may be expecting a bonus or inheritance. Also many lenders may ask you to sell assets. You will be able to see what happens if you do this.
· You can set a maximum payment. This means that you can set realistic goals, and then you can achieve them.
· You can compare and contrast all of these simple changes that are created to help you.
You need a willing lender and borrower to work together. If you are willing to work with your lender to pay your mortgage in full you will be able to hold onto your home or investment property.
What happens if you do not pay your mortgage in full?
Look at the amortisation table. It will show you how much you will still owe. This balloon payment may be acceptable to you, if not make a small change and see what happens. What if you sold some assets and made a lump sum payment? What if you made a small increase in your monthly payment?
What do you do now?
For the mere price of a cup of coffee you can save your home or you can save thousands in interest charges.
http://www.facebook.com/GMApps
