Paidoff™ (303-870-8337), a Denver-based, mortgage company which specializes in helping homeowners pay off their mortgage Much Faster™ has released a new guide to help seniors choose the right HELOC repayment plan that suits their financial circumstances.
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The newly released Much Faster Formula© guide for seniors provides practical advice on choosing a solution that accelerates mortgage payments, freeing up their finances years ahead of schedule. The guide suggests using a first-position HELOC to speed up mortgage repayments by making extra payments and centralizing household income and expenses to keep finances simple and well-organized.
Further details are available at http://thepaidoff.com
The Paidoff™ guide follows findings from Harvard's Joint Center for Housing Studies which suggest that although the majority of those aged 65 and over are homeowners, many are still paying off their mortgage into old age. Specifically, the share of homeowners aged 65 and older with outstanding mortgages has doubled from 1989 to 2016, and the outstanding loan-to-value ratio has tripled during the same period.
Paidoff™ highlights that the number of households with individuals aged 80 and above bearing the majority of household expenses is expected to double by 2040. Therefore, the company states, there is a real need for viable payment solution advice to help seniors offload the financial burden of an unpaid mortgage faster than is possible with a traditional bank-backed mortgage repayment plan.
"The HELOC is the best strategy for financially responsible seniors who are looking to free up their finances and enjoy their retirement without the worry of making mortgage payments work with their pension," explains Irina Saveliev, a.k.a Irina The Mortgage Breaker™, co-founder of Paidoff™. "The HELOC our company works with offers a much better deal for seniors, with access to funds to help with care costs and retirement planning up to the limit of $2 million, depending on your financial situation."
The Paidoff™ HELOC is particularly suited to seniors who have had the opportunity to demonstrate their financial discipline over decades, explains Irina - The Mortgage Breaker™. One of the main qualifying criteria for the Much Faster™ HELOC is that the applicant should have a proven track record of managing their finances responsibly, across their savings, spending, and investments.
Successful HELOC applicants also require a credit score of at least 700, according to the Paidoff™ website. Achieving such a high rating is much harder for young families than for dedicated seniors who have spent their lives building equity and demonstrating fiscal prudence.
Colorado seniors who are interested in which HELOC mortgage repayment option is right for them are encouraged to contact Paidoff™ by calling 303-870-8337 or visiting http://thepaidoff.com
Contact Info:
Name: Irina Saveliev
Email: Send Email
Organization: Paidoff
Address: 600 South Cherry Street Suite 143, Denver, COLORADO 80246, United States
Phone: +1-303-870-8337
Website: https://www.thepaidoff.com/
Source: PressCable
Release ID: 89139456
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