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Secrets I Probably Shouldn't Reveal:How To Get Other People To Pay Your Home Mortgage
Everyone dreams of becoming a home owner, and when that day finally comes, it may be a little more difficult than expected to stay current on payments and organize household finances.
And, while there are a number of loans and financial provisions that can be made for individuals in a number of different situations, I'd like to share one method I used to get other people to pay my monthly house payment--mortgage sponsorship.
Mortgage sponsorship is the process of soliciting other businesses to cover your mortgage costs, while providing free advertising for the business.
Mortgages are auctioned off, mostly online at eBay, and businesses can bid on the mortgages they are willing to pay in exchange for excessive publicity for a specified amount of time.
This system seems to work pretty well, since businesses are continually looking for more exposure, and a story about an unusual sale on eBay will almost always do the trick.
In my case, the winning bidder's business is spotlighted for six months on my web site, so that both the homeowner and the business can receive the maximum benefits as a result of the deal.
This method has proven to save my family significant amounts of money, and allows us the opportunity to reorganize our finances in order to pay off other debts.
Before selecting a business to sponsor your mortgage, its best to get as much background information as possible about the history of the company, and how many customers that company usually has.
This way, you'll be able to tell just how capable the businesses you choose are of actually helping you with your mortgage payment.
Be sure to set up a definite financial plan with the business you select before making any final decisions, and make sure that you can meet all the advertising requirements for the company.
For more information on how to get your mortgage sponsored and save your family money, visit www.sponsormymortgage.com .
About the author:
James Wilson, a marketing strategist and business consultant, will take you by the hand and show you how to uncover hidden assets and overlooked opportunities in your business to boost your bottom-line. He can be reached by visiting www.sponsormymortgage.com
More Useful Resource and Updates on re mortgage bad credit home loans 2nd mortgage
- Banks slash home loan rate (Perth Now)
THE big four banks have all reduced their variable home loan rate by 80 basis points, passing on most of the Reserve Bank's full percentage point cut.
- Interest rate relief but not much (Adelaide Now)
HOME owners are likely to miss out on half the interest rate cut expected to be announced by the Reserve Bank today.
- Countrywide Settles Fraud Cases for $8.4 Billion (Update1) (Bloomberg)
Oct. 6 (Bloomberg) -- Countrywide Financial Corp. , the home mortgage lender acquired by Bank of America Corp. in July, will offer interest rate and loan principal reductions plus other distressed borrower relief valued at $8.4 billion to settle consumer fraud complaints from 11 states.
- TD Canada Trust increases home equity line of credit and variable interest rate mortgage rates (CNW Group via Yahoo! Finance)
TD Canada Trust has increased its home equity line of credit and variable interest rate mortgage rates, effective October 7, 2008. While TD Canada Trust has endeavored to not pass on the increases in rates to its customers, this change reflects steadily increasing costs of funds in the current economic environment.
- BofA in mortgage lender settlement (Financial Times)
Bank of America has agreed to settle multi-state claims of deceptive and predatory lending practices against Countrywide Financial , the mortgage lender, in a deal that could result in a cut of up to $8.4bn in interest rate and principal payments for homeowners.
- Commonwealth cuts home loan rates (Daily Telegraph)
AUSTRALIA'S biggest mortgage lender Commonwealth Bank has reduced its standard variable home loan rate by 80 basis points to 8.53 per cent, passing on most of the Reserve Bank's cut in the cash rate.
- Rate cut hits home (The Age)
The Wright family are among the beneficiaries of the Reserve Bank?s decision to slash interest rates.
- TD Canada Trust hikes variable mortgage rates, lines of credit (Canadian Business)
TORONTO - One of Canada's biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages.
- Big interest rate cut tipped (The West Australian)
Home borrowers are tipped to see the biggest rate cut in seven years on Tuesday as global financial market turmoil puts pressure on bank funding costs.
- Bank of America creates home retention program for Countrywide customers (Banking Business Review)
Bank of America has announced the creation of a proactive home retention program that will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal reductions for nearly 400,000 Countrywide Financial customers across the US.
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