HOW KARL MIFSUD IS HELPING AUSTRALIAN’S REDUCE THEIR DEBTS FASTER AMID THE MORTGAGE RATES HIKE
Australians are facing the looming threat of rising mortgage rates, putting them deep in debt. According to Karl Mifsud, inventor of the Home Loan Minimiser and creator of several financial courses, the rise in mortgage rates led to the current struggle to keep up with repayments.
The Reserve Bank of Australia (RBA) estimates that if things keep turning for the worse, that is if interest rates continue to increase by three percentage points, about 30% of mortgage holders will not be able to make their repayments. Experts are worried that this could pull more households into mortgage stress.
MORE PROBLEMS ARE ON THE WAY
Though the RBA is aware of the problems faced by mortgage holders today, it has announced that it will continue to raise interest rates in the coming months in response to rising inflationary pressures. The subsequent increases follow a period of record lows which have helped drive strong growth in the housing market.
The impact of the interest rate rise is expected to be felt most keenly by those with variable rate mortgages, who will see their repayments increase. For many Australians, this will be the first time in years that they have experienced an increase in their mortgage repayments.
Experts believe these string of events will likely cool the housing market, which has been experiencing strong growth in recent years. This could make it more difficult for first-home buyers to enter the market and may see some existing homeowners struggle to meet their repayments.
The RBA has indicated that it expects interest rates to rise further over the next few years as the economy strengthens. This could make homeownership increasingly unaffordable for many Australians and could see the number of people defaulting on their mortgages rise.
HELPING AUSTRALIANS PAY DOWN LOANS FASTER
The current problems in homeownership have pushed some people to mortgage stress and desperation. Others have accepted that they will be paying loans up until their retirement.
This is where Karl Mifsud’s courses come into play. His proposed solution to the mortgage loan problem is to educate people and introduce them to the concept of debt reduction, tax minimisation, cash flow management, investment property research and wealth creation. He has witnessed many people apply the basic principles and in turn pay off their loans faster and for less money. This will help ease the burden of increasing interest rates and make homeownership more affordable for Australians.
Mifsud’s approach will also enable Australians to take advantage of tax benefits and interest-free credit, applying extra money towards their mortgage payments.
Central to his courses is the Home Loan Minimiser, an improved methodology and newly acquired patent innovation geared to redefine how Australians think about their mortgages. While he acknowledges that people still believe that the idea of getting out of debt completely is unfathomable, Mifsud is optimistic that the patent approval of the formula will help Australians realise they have the power to evade mortgage stress.
Since developing his courses, Mifsud has helped people save thousands of dollars and pay down their mortgages faster, significantly reducing the paying period to potentially half the expected time.
“The truth is, if people follow what I’m teaching, it will change their life. They will pay off their home loan well ahead of the original 25 or 30 years and create a property portfolio of income-generating assets that will replace their income upon retirement,” says Mifsud.
People who want to know inside knowledge from industry experts can learn more about Mifsud’s courses by visiting the Financce Broker Connect official website.
KARL MIFSUD
