How would you like to be making 18% on an investment? Save Thousands On Your Mortgage Paying down as much of the principal (or amount you owe) each month will help reduce the interest you are charged and the length of time it takes to pay off the debt.So why don’t the credit card companies charge you more of the principal each month? An additional payment of $50 each month will save you five years and seven months and about $52,000 dollars. Just $10 a month will reduce your time by one year and three months and save you over $13,500. The feeling of being debt-free will far outweigh the temporary pleasure of that burger, movie or new DVD-player. You may not have enough equity in your home for a funding. Wouldn’t you want this investment to last as long as possible? That’s nearly two times the cost of the home!A credit card debt of $7000 (now the average) at 18% being paid at the rate [...] How about $50, $25, or even $10? And this applies to interest on credit card payments or any other kind of debt repayment. It is working against you 24 hours a day, seven days a week, each and every day of the year.So what can you do?You may not be able to pay off your debts or mortgage now.
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