Mortgage Scorecard

Understand where your money is going; and where it SHOULD be going.

Discover Your Freedom.

Discover your financial strengths and improvement areas using our Mortgage Scorecard Quiz.

Lets get started by taking a quick 3-5 minute Mortgage Quiz (Scorecard).

At the end you'll have a clear picture of where you're strong, and you'll find a few places you'd like to improve (that's normal). Either way, in just a couple of minutes, you'll have a better handle on your finances...

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Your Name
Your Email (so we can email the results to you)
Do you have the ability to make a mortgage payment in whatever amount you want to this month, without any penalty from your mortgage company and without having to ask for approval?
Have you ever had a situation where you had an unexpected expense come-up?
As you pay down debt, can you take money out again - up to your borrowing limit, whenever you need and without asking?
For most people, their home “stores” the largest piece of their wealth, yet they can’t use it. Do you have a way you could tap into this large portion of your wealth?
Are you able to save as much money as you really need to live the type of retirement you want, or are you diverting a large portion of potential savings into your mortgage payment each month?
By paying off your mortgage, then focusing on “catch up savings” for retirement, have you calculated how many years you’ll have to work, after paying off the house, before you can comfortably retire?
Do you know what your bank’s “posted rate” is, and how it impacts your costs over the life of your mortgage? Do you know how to calculate these real costs?

Mortgage vs Home Equity Line of Credit.

Do Your Research and Solve the Case...

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Mortgage = Segregation of Income.

Before we move forward, you need to first understand a basic banking principle called “segregation of income”. Banks want your money as segregated as possible. They want your money to be funneled down various rabbit holes like checking accounts, savings, GICs, and money market accounts. If your money is split up, you cannot utilize 100% of it toward a common goal.

Mortgage = Trapped Money.

​To ensure that your money is segregated, the banks advertise and offer traditional closed-end mortgages. Money can only go in and only comes out if you refinance or sell. Basically, your money is trapped! It would be financial suicide to put 100% of your income into a mortgage, because you would have nothing left available for living expenses. So, this forces you to put only a percentage of your wages towards your mortgage. It doesn’t matter if it’s a big percentage or a small percentage. At the end of the day, it’s still just a percentage. That means you stay in debt longer. The longer you stay in debt, the more interest you pay and the more profit the bank makes. This is common knowledge.

Mortgage = Transfer of Wealth.

​But what about the portion you left sitting in a bank account waiting to be spent? Well, that’s the other money maker. Banks leverage your depository accounts to manifest “electronic money” out of thin air. They are lending your money out the back door for higher-yielding investments and loans to consumers...including you! That’s right. You are probably borrowing your own money back from the bank at a much higher rate. So, mortgages are just one of the ways banks make money off of your transfer of wealth. They are very much after your checking accounts as well.

HELOC = The Perfect Tool.

Mortgage vs Home Equity line of credit. There is a big difference and you should know about each of them. In fact, all you do is change where their cash goes. Since a HELOC was open-ended, meaning money could go in and out freely, folks would put all their money into a HELOC, bypassing their bank accounts. When they needed to pay bills, they just used their HELOC to make a payment. As long as they made more money than they spent, the acceleration of this simple interest tool was astounding-almost too good to be true if you didn’t understand the simple math. ​This is another reason a HELOC is the perfect tool. It merges two financial products, a mortgage and a bank account, without losing liquidity.

WHAT'S YOUR SOLUTION TO FINANCIAL FREEDOM?

Financial Planning
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Money Saving
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Home Equity Line of Credits
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Our Vision

 

Our goal is to make our financial strategy easy to understand and easy to apply.

We exist to create freedom for homeowners. Have the flexibility to meet financial goals as they arise…

Save money and make your money work harder for you…