(888) 292-1099 info@moneymastery.com

What It Really Means to Have a Mortgage…

Did you know that the word “mortgage” is Latin and means “death grip?” So if you have a mortgage for your home, you are literally in the grip of death while you work to pay that thing off.  Scary, huh? Most people don’t think of house debt in such a way, since “everybody does it” and no one thinks twice about doing it for 30 years!
Mortgage debt, whether we want to face it or not is not considered “good debt.” Is there such a thing as “good debt?” Of course. This is debt that you get into for a very short time in order to make additional wealth. Rich people will engage in this kind of debt all the time. But we’re not talking debt they get into for 30 years. This is very short-term debt that allows them to turn a quick profit by doing so.
Mortgage debt is bad debt because while you sit in your house making payments, you cannot get to the money invested in your house. This is called “dead equity.” It is not liquid and it has a lot of strings attached to it — the equity in your home cannot be accessed unless you sell your house and move out! This is not debt you can quickly resolve to then make more money. You are strapped when you get a 30-year mortgage — strapped to the bank who has you in its grip of death, sucking the life out of you with interest payments.
And don’t be fooled by the out-dated advice that your mortgage is a good tax deduction. That advice is like telling someone to pay $1 in order to save 25 cents. If you do the numbers you will see that the amount of money you can save in taxes by having a mortgage cannot keep up with the amount of money you will pay in interest over the years.
That way you can take the interest you would have been paying for 30 years on the house and use it to build a secure retirement. There is a way to get out of mortgage debt in under 10 years. It’s called the Power Down approach. Learn more about it here:  www.moneymastery.com.

Get in touch with Money Mastery®

Money Mastery Logo
Connect with us.

Our support Hotline is available 24 hours a day: (888) 292-1099

Refund/Cancellation Policy:

All subscription purchases made can be cancelled anytime, directly within your subscription, by going to MY ACCOUNT and clicking on Do Not Renew. Subscription purchases are paid in advance. Purchases made for books and other items that are not monthly, or annual subscriptions, can be cancelled in writing within 30 days of purchase for a full refund.

Payment Methods