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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Tue, 14 Jun 2005 16:52:51 GMT
/ Author of the message: Michael Roback |
Title of the message: |
Using an Offst Account To Pay Down Mortgage ???
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Text of the message: |
> I did a refi a few months back and have a 10/1 5.25%. I have a first of about > 650K and a second of about 50K. I want to knock it down as quicly as possible > so that when it hits the adjustable any fluctuation in rates will not be a > problem. I have been looking around the web and there are many people selling > various versions of what I think is the same system, claiming that you could > pay off a 30 year loan in 10 years or so. They talk about setting up a offset > account and putting all of your income in that account and moving money > around. I don't quite understand it yet and came here hoping that someone > could help me out. As best as I can gather what you do is find a tax free > investment that will pay interest on your income that surpasses the rate on > your loan and then take the interst and contribute to the loan to reduce > principal on the loan. They also talk about using a HELOC or Credit card |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.