In addition to the pressures of “keeping up with the Jones,” the recent low mortgage interest rates along with increasing housing prices have contributed to the increased debt load of every family who holds a mortgage. Accounting to Statistics Canada, housing prices have quadrupled between 1982 and 2008, thus leading to a quadruple ripple effect on the average mortgage loan (Chawla, 2011). Even with all these external factors, it is possible to become mortgage-free by implementing the GLAD.
Do You Fit the Mortgage-free Profile?
As part of the Project 100-10-10 initiative, over a 10- month period, we will be helping 100 families figure out how they can pay off their mortgage in 10 years. Meet some of our potential clients.
This is Emily. She is a single mom with three young kids. She has a mortgage of $350k on a property that is assessed at $750k.
Also, meet Anne, a self-employed working professional making $150k per year.
This is Bob and Irene. He is 55 and she is 53 years old.
They have 12 years left on their mortgage.
Here are some questions to ask to determine whether you’d be a good fit for Project 100-10-10.
Q1: Do you currently have a mortgage?
Q2: Do you want to become mortgage-free faster?
Q3: Are you willing to listen to some suggestions on how to become mortgage-free faster?
Q4: Are you willing to review your mortgage with us on an annual basis?
Q5: Will you be open and honest about your financial situation?
Q6: Are you willing to do a questionnaire every year?
Q7: Are you open to us using the data for research?
Q8: Aare you willing to do a video testimony to help us?
Q9: Are you worried about your mortgage?
If you answered YES to all the questions above, then we invite you to visit us on our website at www.cashproperty.ca/books/project-100-10-10/ and submit an application to join project 100-10-10. It would be our pleasure to work with you to help you become mortgage-free faster.
For Project 100-10-10, we are limited to 100 families. Each month we will select 10 families that we can best serve, to participate in Project 100-10-10.