Mending The Wound – Part 1
So you’ve decided to take control of your money and focus your energy on preventing interest from accruing on your mortgage as much as possible. Great job! Now we can begin to stitch up that hole in your pocket and close it for good so you own 100% of your home. From there, you become a huge player at the bank and they will bend over backwards to serve you.
You see, once you own the home free and clear you are now in the top 10% of financially stable Canadians and your reward is leverage at the bank! Having already proven yourself to be financially savvy, any and all banks will compete for your business and support your endeavours. You want to open a business or borrow to invest? The banks will be there and you will be negotiating from a position of power.
Did we mention that now you also know precisely how long it would take you to do the exact same thing again with another mortgage? How’s that for predictability and certainty for your future?
