How to Pay Off Your Mortgage Using A HELOC
With additional income streams and some discipline, we have figured out how to throw almost 60% of our income towards our debt. we use a HELOC to pay off student loans, our mortgage and invest.
Why are people reluctant to use a HELOC to pay off their mortgage?
Throw in these three misunderstandings about HELOC's and most people will never capitalize on the benefits of leveraging one:
1. We don't trust what we don't understand, so we are less reluctant to learn/try. 2. Guru Dave Ramsey says “No to proceed with the idea”, keep budgeting
Here is a few reasons why you haven't even heard of the idea of leveraging a HELOC to pay off your mortgage:
Is using a HELOC to pay off a mortgage safe?
1. Banks do not want people to accelerate mortgages. 2. It is not something that is commercialized or recommended. 3. Requires a positive cash flow each month
1. Positive monthly cash flow that would make enough of an impact on the HELOC 2. Simple financial discipline
Steps to use HELOC for your mortgage:
Tap the link below to Learn More About paying off mortgage using a heloc
How to Use a HELOC to Pay Off Debt
Why You Should Pay Off Your Mortgage Early
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