Looks like William Saletan is still doing his thing at Slate. I notice he’s off the topic of IQ and race.
December 13, 2007 at 7:19 pm
“The catch was that as long as houses were appreciating, people could keep refinancing to keep the interest rates on their loans from resetting.”
What with the way the Real Estate market is today, folks can no longer count on appreciation to build equity. Those who realize that they need to paydown their current mortgage debt are looking for alternate ways to aggressively (yet safetly) build equity.
They’ve found that the Money Merge Account system is a perfect way to do that; they can focus on the wealth accumulation goals while accelerating their equity by using a Home Equity Line of Credit (HELOC).
A typical 30 year loan (of whatever type) can be paid down in 1/3 to 1/2 the time; it’s a great way to save huge amounts of income by eliminating the front-end interest load of a mortgage amortization schedule. (On these million+ dollar homes, I’ve personally seen where the Money Merge Account will save the owner 3/4 million in interest charges!)
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