Did you know that your debt is by design.

What your banker will never tell you is that there is two types of Mortgages. There is either a closed end mortgage or and open end mortgage but your bank or mortgage professional will never offer you an open end mortgage. Why because you would be able to pay off your debt quicker, including your mortgage. What is a open end mortgage? It is a mortgage in which a borrower is allowed to re-borrow against the principal that has been paid thus far. Now most people will see that as bad, but is it really. Well the easiest way to explain this is that you will have a massive line of credit.

Example: Let’s say your mortgage was $300,000 well that is basically a $300,000 line of credit except if you owe on it your line of credit would be used all up. Sounds Bad right, but lets say your interest was 5%. Well Now you have a loan that is available at 5%. Now To take advantage of this you have to look at it for what it is. The way to take advantage of this is to have your whole pay check deposited in you account, what will happened with that is the 5% will go to pay on the interest, and the rest will go to the principal so if you made $5000 a month, it would use about $1000 for interest and the $4000 would pay on the principal. So now you would owe $296,000 but $4000 would be available to pay the rest of your bills including your high interest credit cards. But your interest rate will still be the 5% so what you do is take those 30% credit cards and turn them into 5% credit card by paying them off with your mortgage. You run all your bills and payment through this account until you pay hem all off. Once you get rid of all your other debt you tackle the houses mortgage. It is basically that easy.

You have access to you equity without getting scammed out of thousands of dollars every time you need the money. They do this everywhere over seas. They don’t do it much here because they want you in debt. It’s easier to control you when your in debt. So what we need to know is anyone in the US that have an open end mortgage and if so we need you to post your mortgage source. One thing I have learned over the years of my life is that you cannot count on congress to help anyone but themselves. So we must pull together and help each other out of this mess.

I also found a program that cost a one time $7.00 you can use this program to generate a little extra cash, I have been paid $600 dollars so far.

http://www.whatpage.org/go?id=1461

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During may research I have found tat most banks have an open ended mortgage, they are just not offered to you, one because you live in this country and two there is no real incentive to help you get out of debt.  In other countries this is something that is mandated by the government.  Now do not get me wrong they will sale you the 30, 40 or 60 year mortgage if that is what you want.  But they will also allow you to purchase an open ended mortgage.  You rarely see them here because they do have to offer them.  Our economy is a debt economy, this is which all a bank to lend ten dollars to a hundred dollars for every dollar on the books. This is the biggest pyramid scheme ever concocted, that why the bank meltdown almost destroyed our economy.

If you find such a loan, you are either rich or the bank is headquartered in another country.  The best that you can do is create your own mortgage,  by using a money market or a line of credit.