Financing in Littleton>Question Details

Char, Home Owner in Littleton, CO

What is the truth about turthinequity.com?

Asked by Char, Littleton, CO Sat Jul 23, 2011

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3
Char,

Any principal reduction plan that charges a fee is an unnecessary expense. You can easily accomplish the same result with a copy of your amortization schedule and the discipline and financial capability of making additional principle payments on a regular basis. There is no magic in principal reduction,just mathematics.The fact it is a .com and not a .org should provide some insight as to their mission to "help"

Best Regards,

Jim Weichselbaum
Broker/Owner
RE/MAX 100 INC.
303-888-4900
1 vote Thank Flag Link Sat Jul 23, 2011
The concept itself can work. (I looked into it a number of years ago.) However, I was absolutely turned off by that site--lots of phony videos and other questionable practices. Too many red flags.

It's less efficient to just make an extra principle payment every month, but it doesn't cost anything up front and you're not dependent on someone else for "the magic formula."

Hope that helps.
0 votes Thank Flag Link Sun Jul 24, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Char,

There is no reason to pay a fee to gain equity in your home. Here are 3 things a person can do in order to gain equity in their home:
1. Make extra payments towards the principal of your home as often as possible. You can view the results of making monthly, quarterly, or yearly payments by building an amortization schedule. Even though the terms of your mortgage might be a 30 year, make your own 15 or 20 year term. Less interest paid and you build equity.
2. Keep your home maintained
3. Do not make extreme renovations that will overprice your home in your neighborhood.

Thank you for your question.

Joyce Sedam
YOUR REALTOR FOR ALL SEASONS
CHERRY CREEK PROPERTIES, LLC
720-934-7085
jsedam@gmail.com
http://www.JoyceSedam.com
0 votes Thank Flag Link Sun Jul 24, 2011
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