Introduction by Huong Luu Download the free book Path to Mortgage Freedom in 10 Years elcome to Project 100-10-10. No, this is not a school project or a “save-the-planet” initiative. This
project focuses on Helping 100 Families Pay off
Their Mortgage in 10 Years, with the bigger goal of
helping 1,000,000 families pay off their mortgage in 10
years.
Download the free book Path to Mortgage Freedom in 10 Years
As a Real Estate Investor and Real Estate Coach, I
realize that few people with a mortgage have the
knowledge and tools to pay their mortgage off
FASTER, and why it’s in their best interest to do so.
Other than the regular payments, they would make to
their banks for principal and interest, very few families
actually think they can pay off their mortgages sooner.
This was an astounding fact for me to find out.
I therefore dedicate Project 100-10-10 to everyone who
wants to become mortgage-free faster. It is possible
to pay off your mortgage in 10 years, of course
subject to certain conditions. Let’s say it will take extra
five years (or 15 years), well, isn’t that better than 25
years? Wouldn’t that be worth the cost of this book?
Although there is information useful for the first time
home buyers, this book does not go into details of the
purchasing process. We are assuming you have some
understanding of the house-buying process, and have
discussed mortgages and real estate.
Here are a few reasons why we wrote this book:
1. Not everyone is familiar with the various ways
of paying off a mortgage. In later chapters, you
will find four different ways to pay off your
mortgage faster. These options are available to
everyone with a mortgage – and best of all,
there’s no extra cost involved.
2. The faster you pay off your mortgage, the less
interest you’ll pay. This is hands down one of
the best reasons for you to pay off your
mortgage as quickly as possible. As every
situation is different, we’ll present you with
various scenarios enabling you to see how
much interest (this is your money) you’d
potentially save. You might be surprised to find
that you can actually save $50k - $200k if you
were to pay off your mortgage sooner.
The sooner you pay off your mortgage the more
equity you’ll be able to access. Tapping into
your equity can grow your net worth and help
you achieve financial security.
This book also focuses on life’s curveballs, as this will
affect us becoming mortgage-free faster. We have a
“plan” of what we want in our life, but sometimes, life
throws us a curveball and it takes us off the path that
we have envisioned for ourselves. We go through a
few of these curveballs in some detail to show you how
your ‘plan’ to pay off your mortgage faster could get
affected. But we also give you some solutions that
might work for you to get back on track.
Some commonly asked questions about paying off
your mortgage are also dissected in this book. For
example, ‘If I have some extra money, is it better to
contribute to my RRSP or to pay off my mortgage?’ We
will also look at ‘Is it better to pay off my mortgage or
put any extra money I have into my kids education fund .
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