HELOC to Pay Off Mortgage
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The Kwak Brothers: HELOC to Pay Off Mortgage


Published on: Tuesday, November 12, 2019

HELOC to Pay Off Mortgage

HELOC to Pay Off Your Mortgage... You may have heard this elsewhere or you heard it from us... You can pay off your mortgage FASTER using a HELOC. Well, it's true! I'm going to breakdown exactly how you can use a HELOC (or just about any line of credit) to pay off your mortgage faster... On average 5-7 years.

Download our FREE HELOC Calculator & Explainer eBook: http://chopmymortgage.com

HELOC During The Recession VIDEO: https://www.201tube.tv/watch/XxlVwLmzr2E

HELOC To Buy Investment Property VIDEO: https://www.201tube.tv/watch/bjLbDQsSZAw

We call this strategy & method: Accelerated Banking.
It has many names from different organizations such as Sweep Strategy, Velocity Banking, Mortgage Acceleration, Pill Method, HELOC Strategy, etc.... It has SOOOO many names. But... the REAL name is Accelerated Banking

This strategy hails from Australia. And in Australia, it is reported that 1 out of 4 people use this strategy to pay off their mortgage.

The strategy involves using a Simple Interest HELOC (Home Equity Line of Credit) to pay off your mortgage. It's taking advantage of several things...

1. Lower Average Daily Balance = Less Interest You Gotta Pay.
Using the Open & Revolving nature of the HELOC, we're going to use the HELOC to make a principal payment against the mortgage which further reduces the interest owed as well as the time spent to pay off the mortgage. But now you have a balance on your HELOC. This is where you use your income and savings to knock down the principal balance on the HELOC which allows you to lower the average daily balance YET... Still use the income to cover your expenses out of the HELOC

2. Double Income Utilization
This is a concept where you use ALL of your income to reduce the balance of your HELOC but still being able to use the same income to cover your expenses. In one variation of the strategy, we introduce credit cards to hold all of our expenses while our HELOC is to use to wipe out the balance of the HELOC at the end of each credit card statement period.

3.HELOC is now your new "Savings Account"
By throwing all of our extra savings into the HELOC instead of your savings account, you can actually expect to save 4-7% interest (depending on the HELOC rate), instead of trying to earn 1-2% APY on a savings account. It's a matter of opportunity cost. By decreasing the balance of the HELOC with the savings, you're saving interest by whatever the amount you have "deposited" against the HELOC.

If you're skeptical about this strategy... You should download our FREE Excel Calculator and our FREE ebook that explains deeper as to how this strategy works!

Download our FREE HELOC Calculator & Explainer eBook: http://chopmymortgage.com

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The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom)

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#heloc #mortgage #helocstrategy

Video Created by:
Christopher Dorsano - Creative Director

---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and The Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.

Source: https://youtu.be/3_h4AAqzSNc

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