A. Homeowners in the U.S. have been "programmed" by mortgage companies to accept the tradition of paying their mortgage over 30 years, and in the process, repaying the mortgage company as much as 3 to 4 times the amount borrowed! The effect of one extra payment a year can reduce your term by as much as ten years. Then you can invest that payment each month for the remaining ten years, have a very significant savings program and be debt-free at the same time!!

A. The key here is changing from your old habit of paying monthly to making half a payment every two weeks. By doing this, you are making 26 half-payments each year which means there are two extra half-payments which occur semi-annually. Our computers track these "extra" payments and forward them to your mortgage company as "principal only" payments. As the interest paid is based on your current principal balance, reducing that balance consistently reduces the interest paid and the term of your loan. You are no longer allowing your lender to collect mostly interest over the first 23 years of your 30-year mortgage.

A. By consistently making principal payments on your behalf, the monthly interest payments charged by your lender are reduced at an ever increasing rate, until finally your mortgage is paid off earlier, saving you thousands of dollars in interest.

A. Sure you can. When was the last time you made a principal-only payment on your loan? Statistics tell us that 97% of American homeowners do not prepay their mortgages. Of the 3% that do, only 1% do so consistently. The Equity Savings Program provides consistency with ease. When you make half a payment every two weeks, you don't feel the extra money that's being set aside with the program...but you certainly feel the benefits!

A. Yes! It's as simple as increasing the amount of your biweekly debit under the Equity Savings Program. Any additional funds you want earmarked to pay down your principal are then forwarded to your lender, reducing your balance and accelerating the payoff of your mortgage even further.

A. You can put any long term loan on ESP, including boats and even automobiles. Balloon payments due on commercial mortgages can be significantly reduced or even eliminated through the Equity Savings Program!

A. The transfer of funds is done through the Automated Clearing House (ACH) under the strict regulations of the Federal Reserve. Unlike other loan reduction services, Equity Savings Program funds are deposited into Citibank, NA, the banking division of the world's largest financial institution. Dating back to 1812, Citibank has some 200 million customer accounts in more than 100 countries and $1.8 Trillion in assets. The account is maintained solely for the purpose of making client loan and principal payments.

A. There are several reasons:

1. They lose money on a biweekly plan. Lots of it!
2. They are not set-up to handle biweekly payments.
3. Even if you're lucky enough to be with a lender that does offer a biweekly mortgage, it usually means you have to refinance your existing loan and pay all the related costs involved!

The Equity Savings Program provides a service that most mortgage lenders don't really want to deal with.

A. Yes! Just provide us with the current interest rate you are paying and the current balance of your loan for your ESP analysis.

A. Yes. Should you sell your home, refinance or pay off your current loan, your membership can be transferred to the new mortgage. There is no roll-over fee as you are a lifetime member.

A. No catch. Just simple arithmetic based on consistency. Although many consumers are aware they can pay down their mortgage, they either don't pay extra at all or they pay sporadically. The Equity Savings Program is a service that provides a consistent method to minimize the amount of interest you pay your lender. It's a forced savings plan which provides the discipline most Americans seem to lack.