A Walthamstow resident has become an author, after managing to pay off his mortgage after just seven years.
Orall Cornelius decided to write the book to demonstrate to others how paying off a mortgage is possible. The e-book, called “Murder your Mortgage in 7 Years” has been published through Amazon, and shows people how it can be done. Cornelius, 45, grew up in Walthamstow and still lives there with his wife and two children.
According to Cornelius, he wanted to pay off the mortgage so that he would have security and freedom during a weak economy. He also calculated that if he paid the loan over a period of 25 years, the average term for a mortgage, he would be paying back double what he had borrowed.
Now that the mortgage is fully paid, he has been able to leave his job and start studying for a master’s degree in Psychology. It took around one month to produce the e-book, which focuses on two main elements of paying off a mortgage – cutting back on spending and gaining a low cost tracker mortgage which allows regular overpayments.
Cornelius does say that it hasn’t been easy to pay off the mortgage in such a short period of time, and that it caused the occasional conflict with his wife over spending and cut backs. When you decide to apply for a mortgage, a professional mortgage adviser will be able to help you calculate a budget to suit your requirements. CeMAP training is one of the exams which an adviser is required to take, ensuring their knowledge and experience is complete.
