In addition, as a participant in EquityCorp.'s MPAP, you will automatically receive an annual principal balance analysis. Our system employs a network of banks and the Federal Reserve System to transfer the funds. No third party touches your money, and you are always in control. Q. Will the Mortgage Payoff Acceleration Program and EquityCorp. Yes, it will work on any loan that has compounded interest, including, college loans, and loans on boats, cars, RVs, and home improvements.
Participants can transfer their membership to their new home for a minimal fee.
Testimonial Mortgage holders can definitely benefit from the Mortgage Payoff Acceleration Program by saving thousands of dollars in interest, reducing the term of their loan, and by building equity faster. People reluctant to acquire EquityCorp.'s service because they want to be able to deduct as much interest from their loan as possible should reconsider. Not prepaying on their mortgage is a poor investment because they pay more interest with a conventional mortgage than a biweekly mortgage, and the difference they've paid out of pocket in interest is more than they actually save in taxes. In addition, prepaying on their mortgage is a guaranteed investment, compared to other investment options. If they choose to invest money toward an option other than prepaying on their mortgage their investment returns must be exceptional to match the interest paid if they don't prepay.