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Are your tired of paying hugh amounts of interest when paying off your mortgage and other debts? Does paying off your mortgage in a fraction of its scheduled time sound attractive to you? Can you think of other things you would enjoy doing with your money other than paying off a mortgage and other debts? The do-it-yourself Accelerated Mortgage Payment plan will allow you to pay off your mortgage and/or other debts in 1/2 or more of their original scheduled time.

It does not matter the kind of mortgage you are holding, fixed, adjustable, 30-year, 15-year and any others can all be accelerated with this system. You do not have to change your existing lifestyle. You can include other debts to be paid off quickly with or with your mortgage. You do need to be able to take out a Home Equity Line Of Credit (HELOC) to implement this system.

We got our HELOC from the same bank we received our mortgage from. The HELOC is used just like you use a checking account. Your monthly income checks are deposited into your HELOC to pay it down to $1. This system can be used to reduce your other debts also, such as car notes, credit cards, student loans and more. There are seven steps to implementing AMP:

1) Obtain a HELOC (Home Equity Line of Credit) from a financial institution;

2) Treat your Home Equity Line Of Credit as you would a checking account. Deposit your monthly checks into it;

3) Take your entire income amount from your HELOC to pay down your mortgage and other bills for the month;

4) Pay your monthly bills including your mortgage from your HELOC;

5) The subsequent month, use your monthly income to pay the HELOC down to $1. Borrow enough again to pay down your mortgage and all other monthly debts for this month;

6) Borrow from you HELOC to pay your bills for the next month;

7) Continue repeating this pattern until all your bills are paid off.

One Dollar, $1, will keep your Home Equity Line Of Credit open. Paying it down every month to $1 will minimize the monthly interest which is calculated on the daily balance outstanding. If you implement AMP, your mortgage and other bills can be paid in a fraction of its originally scheduled time.

This system works because the interest amount paid on the HELOC is calculated daily only on the amount that has been borrowed. This is a lot less than the interest being charged on the original mortgage, which is calculated on the entire principal amount outstanding.

Finances

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