Tim Newell
Worcester, MA (USA)
Role(s):
Other
Personal
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Startup
Location:
Worcester
Industry:
Banking
Year Founded:
2008
Number Employees:
1-10 people
Description:
I have a second mortgage at $57,000.00 I understand how the mortgage business works but I think that as you pay your mortgage the monthly payment should because I now owe less than what I borrowed. How I plan to do this is get investors to lend me the money I need to pay off my mortgage at 8% and I need as many investors to lend me money to equal $57,000.00 If I get 57 lenders to lend me $1000.00 and I ended up making an extra payment and pay one of them off then my monthly payment would go down. This is the way I think lending should be. I could even do it by finding one investor to lend me $57,000 in as many increments as possible so I could pay off the increments and lower my monthly mortgage every payment along the way. Please consider this as you can see that this would work. I would also sign a personal guarentee.