Tag Archives: how to pay off your house quickly

Shorter Mortgages Are Coming

Research shows that people move every five to seven years. This information indicates a disconnect between the current real estate lending industry and the needs of today’s buyers. People need shorter mortgage payment schedules so they can have a chance to build wealth.

Have you ever thought about why the government needs to step in and FORCE people to buy health insurance? I can tell you that if I have to choose between paying my rent or mortgage and my health insurance bill…well, I’m sure you can guess which one I am paying. To me, this is a clear indicator that the economy is worse than any of us really understand. Losing 1.3 trillion dollars a year is bound to show its effects sooner or later.

Plum Genius feels the only way to truly provide a viable way for homebuyers to have a chance of living a financially free lifestyle is to offer another solution. Shorter mortgages.

It is the 21st century. Why are we still doing it the old way?

 

A New Rent-to-Own Program

Back in the early 1900′s, around the 20s and 30s, society introduced mortgages as a way to give people a way to buy houses. They thought it wasn’t fair that everyone couldn’t own a home. So they started with 5 and 7-year mortgages. 4 out of 10 people owned a house back then. They put 50% down and paid 50% off in that span.

Over the years, I think around the 40s, they extended the mortgages to make it possible for even more people to buy houses. As of 2012, 56% of people own their own home. However, only 17% of the population own their home free and clear.

We’d like to see the number of people who own their home outright increase. Plum Genius introduces our 7-year mortgages. It’s part of our rent-to-own program. Learn more about it today.