Did you know that the amount of interest you pay during the first 10 years of a traditional home loan is more than 2x the principal? It's outrageous! But most homeowners in the U.S. keep paying insane amounts of interest because they don't know any better.
Who am I?
My name is Derrick Wademan. I spent 20 years of my life in South Africa as a Real Estate Broker and Financial Planner before coming to the USA at age 60 in 2017. My wife Jennifer and I soon found employment and decided we would live the “American Dream” and buy a home. We didn’t have any credit history or federal tax returns to demonstrate our credit worthiness but a kindly lender offered us a 30 year mortgage at 5.375%. This rate was around 2% more than our peers at the time. We were less than 6 months into our new home and tragedy struck – we were both let go from our jobs within a month of one another. The financial planner instinct in me kicked into high gear to try and find a way to eliminate our debt as quickly and effectively as possible.
Why should you trust me?
In my year of research I discovered that mortgages in the U.S. were designed in the 1930’s and had not been modified since. Examining home loans in Australia, New Zealand, South Africa, the UK and most of Western Europe I found that mortgage holders in these countries are in the minority. Most home owners had paid for their homes within 10 years.
This led me to the discovery of a legal banking strategy in the US that is helping me pay off my home loan in 5 to 7 years with no change to my lifestyle or income. This saves me about $100 000 in interest on a $400 000 mortgage. It’s no scam or magic; just mathematics. The reason this banking methodology isn't popular in the US is because banks would lose millions of dollars in interest. All the banks I researched offer these products but would rather sell you a product that generates as much interest as possible for as long as possible.
You too can learn how to pay your mortgage off in 5 to 7 using a velocity banking strategy and save tens of thousands of dollars in interest. Put these savings towards your retirement fund, real estate portfolio or children’s education.