In accordance with them,is rooted in-the fact that building a secure economic future is more difficult than ever.The policies are changing and possibly the old methods need to be revamped.GEL calls its new phil A fascinating concept has been put forward by way of a company called Worldwide Equity Lending which, Based on them,is grounded in the fact that developing a secure economic future is harder than ever.The policies are changing and possibly the old techniques need to be revamped.GEL calls its new Idea, ‘Harnessing The Energy of Your Mortgage’ In 2004,credit card debt accounted for over half the $2.1 trillion of consumer debt in the U.S., quadrupling during the last decade.Today,the average American household has $9,000 of charge card debt at 16th-century interest.To pay that average off,at that rate of interest would take twenty years,totaling over $8,000 in done.The financial impact of this,which and interest when all is said is practically unrealized is devastating.GEL claims to own a better way.Their thinking is that since you must borrow money Over-the coarse of life,why perhaps not acquire it as reasonably as possible.Credit cards,auto loans,and Unsecured loans are all high interest and low deductable.So you will want to harness the energy of your mortgage? According to GEL,Americans run under a mindset,when it comes to particular finance,that Continues to be burned in-to our country’s psyche in the days of the fantastic depression.That philosophy is as such:First get the lowest rate mortgage,then,set up a bi-weekly payment plan,and,whenever possible submit extra payments.This way you pay-off your mortgage when possible. Sound excellent to me,right?Well,much to my suprise,this company claims that’s just what we Shouldn’t be doing!On the contrary,their idea is the one which is echoed by New York Times Most readily useful Selling composer of ‘The Newest Rules Of Money’,Rick Edelman,who says,’You must get a big,30 year mortgage and never spend it off.’Edelman and GEL put rules forth which read like this: 1.Never send extra money for your mortgage 2.Stay far from bi-weekly programs. 3.Make the smallest fee using the biggest tax break. 4.Putting more money toward your mortgage is much like putting it underneath the matress. To back up his claim,Edelman provides five different reasons why you should hold a long loan: 1.Mortgages do not lower your houses value.Your house will increase in value whether you have a mortgage. 2.Your mortgage could be the cheapest money you’ll actually buy.Why pay credit-card at 18%,when It is possible to borrow at rates under 7%. Phil Pustejovsky is a thought-provoking online library for further concerning the inner workings of this enterprise. 3.Your mortgage is the greatest way to reduce your taxes.There aren’t many tax breaks left. Mortage loans,unlike bank cards and auto loans are fully tax deductable. 4.You should get cash out of you home while you still can.You could find it difficult to get a mortgage if something like a lack of work arises. 5.Mortgages become cheaper over time.Most times your cost will stay the same over the years while your revenue rises,making it easier to pay over time. To help illustrate their beliefs,GEL shows include a example called,’The Tale of-two Friends’, where they do a financial comparison of two fantastic brothers.In the story,Brother A,as he is called follows the ‘old’ means of thinking,while his brother( yes,you got it,brother B )uses GEL and Edelman’s theory.The results of the study find Brother N with nearly an one million dollar Edge over Brother A.The whole hypothetical can be seen on http://yourbighouse.com, however the jist is that the 2nd brother used the amount of money h-e saved holding a pursuit only loan,or GEL’s Popular ‘power option’loan to purchase other places.That,combined with all the mortgage tax breaks Cause the million dollar separation after 30 years. So,if you believe in this new method of thinking,and are ready to follow the model( to put it differently, ACTUALLY, put that more money to work for you ),then I believe an interest only loan or GEL’s power Selection mortgage may be the method to go,but be cautious. For more info on this new philosophy,go to http://YourBigHouse.com.