Just seen a client who has invested in Don James' "Millionaire Mortgage Secrets” manual and who is considering his “Simulated Currency Mortgage” structure. Before I go ahead and get into all the detail has anyone already looked into this? Many thanks.
Paul Scholes
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I haven't a clue, but..
...sounds to me like another scheme designed to put money in the hands of the publisher and become a nightmare for the 'investor'.
If I were looking at it, I would try to figure out (quickly) what the underlying assumptions are and how it works - then run a few possible figures through it.
It sounds similar to a currency mortgage where there are high risks attached to swings in exchange rates.
I do recall the so called 'australian mortgage' from a few years ago - basically involved paying your mortgage 4 weekly rather than monthly, so you got 13 payments in a year and thereby overpaid and reduced the mortgage term. Trouble was that those pushing the scheme, also arranged the mortgage which was at a higher rate than one of the mainstream lenders, and the only ones making money were the brokers.