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If You are Renting You are Still Paying a Mortgage

June 10, 2016

It's a bit of a shock to think of it this way, but that monthly rent payment is likely paying a mortgage. Only it's your landlord that raking in the profit. Every month you make your rent payment, it is another dollar that goes to your landlords wealth building pocket. That timely payment strengthens his credit, builds equity in his home, and ensures his comfy retirement.

 

As a renter, you do not get the tax breaks a home owner would and you are also missing the forced savings a mortgage can provide. Every payment goes toward building equity. As your mortgage balance goes down, the amount of equity in your home rises, giving a homeowner the opportunity to have positive equity. This can later be used to invest, retire, or pay for college tuition.

 

Here at GSF Mortgage, we want to help you keep your money in your pocket. Contact us today to find out how to stop renting and buy your own home.

 

 

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018