Mortgage Riches Grows

By: Lin Ennis

Sedona, Arizona-"Let Your Mortgage Make You Rich!" may soon become pricier, report co-authors Lin Ennis and John R. Barker, both of Sedona. They were recently contacted by an Indianapolis, Indiana, firm that wants to repackage their material and sell it for $595.

"I've researched competitive products," say Ennis. "The most popular one right now is United First Financial (UFF) and sells for $3500. The guy in Indianapolis mentioned one that goes for $12,000."

The premise of these pricey programs is avoiding mortgage interest and using the difference for other kinds of investments. However, unlike a biweekly program that may cost $300-$500 plus monthly fees, this "secret" technique uses equity. In other words, the paid for portion of the home is manipulated to assist in paying off the unpaid for portion. Depending upon the frequency with which the technique is employed, it could cut 20 years off a 30-year mortgage; whereas, biweekly payments generally save about seven years.

Barker and Ennis have been ridiculed for charging so little for their program. They aren't Realtors, mortgage brokers, or financial consultants. Ennis is a writer and small business consultant. Barker is an Internet marketer and Adwords advisor. They put the 96-page do-it-yourself manual together last March after experiencing the power of the "use your house to pay off your house" technique firsthand. They wanted to keep the program affordable for anyone who owns a house.

"Anyone who's buying a house can come up with a hundred bucks," says Barker. "Probably if we charged less, some people would buy it and not even read it. We did lots of soul-searching on the price, trying to help the most people."

"But if we charged $3500, like UFF," Ennis chimes in, "well, if a person put $3500 on their mortgage instead, they could probably save about $30,000 without buying any program!"

On page 55 of their brief step-by-step guide, an example shows a homebuyer named Ruth putting $4000 from a home equity line of credit onto the principal of her house, which ultimately saved her $38,523. Meanwhile, the line of credit cost her less than $100.

Ennis and Barker would not license their manual for resale at a much higher price unless there were considerable value added. "If this guy wants to fund the development of a video and some additional package components that would really add value, yes, we're very much considering cutting a deal with him." Preliminary negotiations suggest he would pay full retail for the manual Ennis and Barker wrote and focus his sales in Indiana, at least initially. The name of his company is not being released until the partnership is certain.

The Indianapolis-based package would in all likelihood be marketed under a different title so the original Let Your Mortgage Make You Rich! can stay at its under-$100 price point. For more information, see www.letyourmortgagemakeyourich.com.

Share this article :

Most Read
• An Embarrassment of Riches - Part II, by Sam Vaknin, Ph.D.
• Amazing Riches Online- Getting A Piece Of The Pie, by Ajibowo Tosin
• Unlimited Warcraft Riches W , by drwarcraft
Top Searches on Home Loans
•  How To Buy A House With Bad Credit•  How To Buy A Second Home