We are using Mortgage Accelerator software from a company called StreamlineYourDebt. This software also has the ability to import your bank statement and recalculate paying off date accordingly. This feature is very nice; it allows users to see how large purchases or deposits will impact his pay off date. This feature is not shown in our screen shots. But you will fall in love with this feature once you begin to follow this software.

It was quite common in California; some people took out risky loan, i.e., stated income loan. Can Mortgage Acceleration save them more money? Here I use an example as an aggressive buyer with 80% with 85k house hold income, and bought a 800k property, interest rate at 5.5%. The real 30 year interest has never been so low. However, he choose 3/1 5/1 ARM for low interest at the beginning. Can he refinance down the road? Or how much can the housing price drop while he can still refinance? Assuming he doesn’t want to buy PMI. This buyer also has 15% HELOC max at 120k, currently paid off 20k.