Anyone have a "Principal Paydown" pitch?

Question

I am looking for something formal that I can mail out to my payors to remind them that they can paydown extra principal without penalty and the benefits of doing so.

Bill Gulley · Answer

Hopefully you some well written notes. If you send this pitch and someone makes $50.00 more or any amount as a principal reduction, you'll need to reamortize the note with each payment!

Bill Gulley · Answer

Dale, are you suggesting a sale of the property?

Dale Osborn · Answer

If balance is getting low - set a cash out price so the payment ends with a lump sum payment to you.

Bryan Hancock · Answer

I would use something about amortizing the loan or paying it off sooner.  I am assuming this is for notes you are writing and you want to collect the cash sooner...right?

Bill Gulley · Answer

Wow, trying to put that in a mailer will be tuff, if you plan on a full explanation or analysis....but I'm guessing that all you want is to tease them enough to get them in the door.

I can reduce your mortgage obligation by thousand of dollars using only the money you might oterwise spend on a dinner and movie on Satrurdays!

Is your mortgage part of your savings plan?

Refinancing now and paying what you pay now can save you thousands of dollars and may payoff your mortgage in half the time!

Is your banker fleecing you? The longer you keep your loan, the more you pay!

Maybe that will give you some ideas....