There is a special system for paying off mortgages and all other debts quickly. This system has been dubbed the the Accelerated Mortgage Payment system (AMP). To implement this do-it-yourself system you must have self-discipline and be able to plan your payments, monthly. Because you regulate AMP yourself, you don't pay fees to an institution to implement it.

A 30-year, 15-year or any other kind of mortgage can be accelerated and paid off quickly with this system. The mortgage can even be interest only. The beauty of this system is that it does not affect your existing cash at hand. You do however, need to obtain a Home Equity Line of Credit (HELOC) to implement the AMP.

Use your Home Equity Line Of Credit just as you would a checking account. Deposit your monthly income checks into your HELOC reducing it down to $1. Draw from it when you need to. The basic 7 steps follow:

1) Obtain a HELOC (Home Equity Line of Credit) from a financial institution;

2) Deposit all your monthly income checks into your Home Equity Line Of Credit;

3) Take your entire income amount from your HELOC to pay down your mortgage and other bills for the month;

4) Pay your monthly bills including your mortgage from your HELOC;

5) The subsequent month, use your monthly income to pay the HELOC down to $1. Borrow enough again to pay down your mortgage and all other monthly debts for this month;

6) Every month pay all your bills from your HELOC;

7) Repeat until all your bills, including your mortgage, are paid off completely.

In short, the borrowed outstanding HELOC amount will equal $1 once it is paid down at the beginning of every month. Paying it almost off (you should leave at least $1 in your HELOC account to keep it open), every month will minimize the interest charged on the HELOC over the course of paying off your mortgage and other bills, and shorten you mortgage payment years considerably.

AMP works and works well, if you have the discipline to implement it. It is a simple system. The rules are few. You use your monthly income to pay down your HELOC and you use the HELOC to pay down your mortgage and other bills. The interest you pay on yor Home Equity Line Of Credit is a lot less that what you pay on a traditional mortgage.