Banks for years have been programming us how pay our loans. They want us to pay this debt over the MAXIMUM term! Why is this? The reason is because the Banks want to make to most amount of money possible off YOU, the debtor. This debt is the result of purchasing such things as a new home, car, boat or school loan. Since most of us really can't afford many of life's luxuries, we end up running up our charge cards! This is a terrible problem that afflicts most Americans. What can be done?
The solution is the Equity Building System (EBS)! The EBS, the bi-weekly mortgage payment system is based on the sound financial concept of making one extra payment, per year, to principal. This is accomplished by systematically collecting ½ loan payment every other week. Since there are 52 weeks in the year, this totals 26 half payments. The 26 half payments are the equivalent of 13 full payment, with the extra payment being applied directly to principal.
This simple concept can save ten's of thousands of dollars over the course of your loans. Please contact us for more information.