PAYING & PAYING & PAYING
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Stop worrying about all your monthly bills
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Stop dreading the first of the month bills
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Stop worrying about your adjustable rate mortgage going up again
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Stop drowning in debt
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Stop the growing tension about never have enough money
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Stop living from paycheck to paycheck
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Stop needing two jobs just to try and make ends meet
Calculate your new mortgage payment
There are times when, for any number of reasons,
we find ourselves with some hefty balances on more then a few charge cards, a car payment - maybe two
car payments, and a line-of-credit. Maybe feeling like we are buried in bills.
If you are spending $600, $800 or maybe even $1,100 or more every month, just to keep your credit card payments on time, then it is time to consoildate your bills into one low, manageable, tax-deductible payment (check with tax advisor).
Lets take a look at several examples:
1. You have a first mortgage of 295,000 at 5.75% 5-year fixed that has 3 years left before it begins to adjust. As we all see from the trends, it- will be a big jump in rate and payment. Your home is valued at $650,000 and your monthly payment (excluding taxes and insurance) is $1,427.92.
2.You have 3 store cards totalling $6,800 and pay the minimum of 2% per month, you are paying $138 a month just to keep the accunts current but you
don't bring down the balances!
3. You have 3 Visa cards with a balance or $9,000 and pay $450 a month4. You are paying $380 per month on a car loan with 40 payments left ($15,200 remaining). Total of $326,000 a month at $2,395.72
On a new 30-year fixed-rate, your consolidated payment could be $2,002.54 a month!
You could get $100,000 for $808.Less then you now pay per month!
Call for your FREE, no pressure, quote on how low your payments can go.
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Chart below shows just how long it takes to pay off a credit card
balance based on 19% interest and with a minimum monthly
payment of 2.0% of the outstanding balance.
Debt Amount |
Amount you Pay Back |
How Long It Takes You to pay back. |
$10,000 |
$26,276.59 |
42 yrs 9 mos |
$15,000 |
$55,370.41 |
48 yrs 11 mos |
$20,000 |
$74,464.22 |
53 yrs 3 mos |
$25,000 |
$93,557.98 |
56 yrs 7 mos |
$30,000 |
$112,651.77 |
59 yrs 4 mos |
$35,000 |
$131,745.58 |
61 yrs 8 mos |
$40,000 |
$150,839.39 |
63 yrs 9 mos |
$45,000 |
$169,933.22 |
65 yrs 6 mos |
$50,000 |
$189,027.02 |
67 yrs 1 mos |
$60,000 |
$227,214.61 |
69 yrs 10 mos |
$70,000 |
$265,402.22 |
72 yrs 2 mos |
