Comments on: How Some Investors are Paying Off Their Mortgages Without Lifting a Finger

By: Colin Bailey

Colin Bailey — Mon, 01 Nov 2010 20:56:02 +0000

Very helpful and interesting article

well done keep up the good work

By: Shuey

Shuey — Wed, 16 Jun 2010 08:20:55 +0000

Hi pankaj

good article ! Can you recommed a good currency broker you use?

Cheers

Shuey

By: sanjiva gupta

sanjiva gupta — Thu, 15 Nov 2007 08:45:34 +0000

Hello Pankaj, Regarding switching loan and reducing debt and interest rate paid on the debt. If I have 1m debt with one or more lender at various rate and I decide to convert it in Yen does it mean I would be paying an interest rate of 1.1% instead of around 6% at present. Will it mean my loan will be taken over by some bank in Tokyo and my loan will move go up or down in Â£ according to exchange rate between yen & Â£. But remain same in yen as it has already been converted. Please clarify. Also how long is the deal for, is it the life time of the loan. Thankyou Regards Sanjiva

By: Jez

Jez — Sun, 04 Nov 2007 15:26:18 +0000

Very useful article – thank you Pankaj.

By: Cqthy

Cqthy — Fri, 28 Sep 2007 23:17:29 +0000

Hi Pankaj. Thank you for writing the article. I have just read the Millionare Mortgage System which explains the process that you are talking about but calls, what you have described, a simulated mortgage which is different to a currency or multi-currency mortgage.

I think it sounds quite risky and would like to know if anyone else is doing it. Also for a multi-currency mortgage you have to prove that you have high income don’t you?

Many thanks

Cathy

By: Gehs

Gehs — Fri, 21 Sep 2007 14:28:19 +0000

Hi Pankaj, Darren and everyone who is reading this comment

I need help. I have just tried my hand in the property business and I have to say, it’s really burnt me.
The help I need is a pointer to where I can still get decent mortgage rate and LTV despite my credit history.

Also a pointer to how to find BMV properties. So I can use none or very little of my money to buy the property.
I am very shocked when I read one of the comments above by Darren, that he could use 50,000GBP to buy a portfolio of at least 1millionGBP.
Thats when I know I need help. Please anyone out there help me, I am teachable.

It started in February 2007 when I took out a remortgage on my home and went to the auctions, the property I bought did not sell for 6 months while the mortgage and other expenses are still being paid.
In that time I had fallen into 2 months arrears on my home mortgage. The problem created is that my credit history is affected, so getting a decent mortgage rate and LTV anywhere is now a problem.

Please help to teach me or share information that I can read with me.

By: Bobby Gill

Bobby Gill — Wed, 19 Sep 2007 15:01:00 +0000

This is some good info. As you say though risk capital is required and you must be prepared to lose it should things go against you.

Daren, you can take out the 50k on a re-mortgage if you have built up a portfolio and use the released equity. This way you are using 50k to reduce your costs and building your portfolio at the same time.