Hurricane Katrina have taken it's toll up in a 4 State part along the Gulf Coast. Many homeowners have got been left at with huge repair and small or no insurance money to assist with the fix-ups. A New Millennium Home might just be the solution for Future Katrina Like Disaster

Many People are stuck in the outlook that getting a 30 twelvemonth fixed rate mortgage and then making extra payments to the bank to pay off the mortgage sooner is the best way. A Homeowner with a $200,000 would pay $1,135 a month. If they were to add $200 further each calendar month their payment would be $1,335 a Month. Lets state they pay on this mortgage for 10 old age and a Hurricane Katrina Like Catastrophe hits and destructs their home and for whatever ground the Insurance covers small or none of the damage what make they have got left Nothing and they still owe over $130,000 on the Home Loan.

A New Millennium Home Loan works on the rule of getting a loan with a low interest rate and investment the difference. A powerfulness option arm is available on a $200,000 loan with a payment of $734 for the first 5 years.

If a Homeowner were to get a loan like this and put the $600 a calendar month nest egg at an 8 percent tax return he would have got over $109,000 in the investing account at the 10 twelvemonth mark. $109,000 that could be used to rebuild. If that same homeowner would go on to do this $600 a Calendar Month payment for 254 calendar months (The Time it took the Former homeowner to pay off their house) He would have got over $395,000 in investments.