With the introduction of High Definition video and the ever increasing speed of internet connections, the MKV filetype has picked up a lot of steam and is quickly becoming commonplace. Here are some of the available MKV codec packages:
This is a guest post by The Mortgage Blogger
Over the past few years, I’ve started many blogs, all of which I have chosen to monetize through advertisements, affiliates, etc. Recently, I’ve started a project (a new blog) where I’ll be monetizing my blog and using all proceeds to apply additional payments to my mortgage. My goal with the blog? To cut my loan repayment time in half (see Pay Off Your Mortgage in Half the Time). Why did I set my goal to half the time? Why not 1/3 the time, why not in 5 years? Here’s why:
- Choose timeframe – Cut loan time in half
I currently have a 30 year loan at an interest rate of 6.375%. Of my $1,500/month payment, only about 15% goes to principal – this is the primary reason that I am aiming to pay off my loan in half the time.
- Choose method – Double Principal Payments
To do this, I need to make double principal payments each month. Since payments to principal start out very small at the start of the loan, it will be more feasible to match each principal payment at the start.
- Generate revenue – Make Double Principal Payments
As my blog grows, and hopefully begins making more money, my mortgage payments will require me make larger payments to principal – as the balance gets paid down, a larger percentage of each payment will go to principal and a smaller percentage will go to interest, thus requiring me to make a larger additional payment – hopefully I’ll be able to fund this through my blog income.
Please comment and let us know if any of you have experimented with accelerated mortgage payments. And keep an eye out for links to my new site (I don’t want to release any links to the site until I have some decent content up on the page).
-The Mortgage Blogger
I’ve been asked by quite a few users about the benefits of adding additional principal payments to the loan with each month’s payment. Logically, since you will be paying double the amount of principal each month, you will, in the end, pay off your mortgage in half the time.
As you get further into the term of your loan, your additional principal payments will become larger each month. The reason for this is that during the first few years of your loan, a majority of each payment goes toward interest, leaving just a small percentage going toward the principal. This switches as you get deeper into your loan term, payments to principal become larger and payments to interest become smaller.
In the end, making double principal payments to accelerate your mortgage loan payment basically serve to make your principal amount (and the resulting interest payments) decrease much more rapidly than with standard monthly mortgage payments.
Many banks and mortgage companies have presented mortgage accelerators in the past by offering bi-weekly payments and calling it a mortgage accelerator. The idea behind the bi-weekly mortgage program is basically this: With a typical monthly payment program, you make 12 payments (one for each month), if you were to simply double this, you’d make 24 payments, right? Right. But the trick with most of the bi-weekly mortgage acceleration programs out there is that they are truly bi-weekly, meaning that a payment is made every other week. What’s my point you ask? Here’s my point, there are 52 weeks in the year, divide that by 2 since you’ll be making a payment every other week and that is 26 total payments. Since these payments are half of a normal payment, this can be equated to making 13 standard full payments per year. So using a bi-weekly mortgage program basically just gives you an extra payment every year. It is this extra full payment that enables you to accelerate your loan payment, and some say that doing this will help you pay off your loan 6+ years early.
Stay tuned for my reviews of other mortgage acceleration options, and the techniques that I use to pay down my mortgage ahead of schedule.
Askimet is the king of blocking comment spam and has just surpassed the 100,000 spam comments blocked for my wordpress blog… about a year and a half in. How many spam comments has Askimet blocked for you?
Akismet has caught 101,269 spam for you since you first installed it.
For as long as I can remember, I’ve been a huge fan of the Starbucks Iced Carmel Macchiato (Venti… of course). However, the last few times I’ve had one, it has tasted like shit! Honestly, I order the Iced Carmel Macchiato because I have a major sweet tooth. If you’re not going to load my drink with carmel flavor and carmel syrup… is there really a point to me buying it? It really seems like they’ve cut down on the use of carmel flavoring that they put into the drink, and it also seems like they’ve been using a lot less of the thick carmel syrup… that was my favorite part!!! After the drink was gone, trying to suck all that thick carmely goodness through the straw.
Are there any other fans of the Starbucks Iced Carmel Macchiato out there? Have you noticed the same thing? Maybe its just this one Starbucks location that I’ve been going to… I should try another one and see if its the same.