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I am more familiar with mortgage eraser plus. It uses a heloc to pay off your mortgage sooner and saves you tens of thousands of dollars in .
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Benefits of Losing the mortgage eraser plus

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Meeting the Requirements

As far as your lender is concerned, here are the typical requirements you usually must meet to eliminate your escrow account:

  • Your mortgage is at least one year old, and you have made on-time payments consistently for the entire year
  • LTV (loan-to-value ratio) has to be under 75%
  • Loan has to be a conventional loan (VA and FHA loans typically cannot shed their escrow accounts; it is part of the condition of a government-backed loan)
  • No taxes or insurance payments can be due in the next 30 days

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Making the Payments Each Year

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Amortization Calculator
Amortization is the repayment of a loan, such as a mortgage, with intervallic . payments to your lender, plus interest, until you have paid off what you owe. . So , rather than sit down with a pencil, eraser, notebook and your solar-powered .
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Comments to How to Break Free from Your mortgage eraser plus

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  2. Great idea – why give the mortgage company an interest-free loan?

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  10. Excellent post!

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