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Dont Change Your Mortgage Pay it off in 5 to 7 Years. Plain, Easy Proof – jj
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Dont Change Your Mortgage Pay it off in 5 to 7 Years. Plain, Easy Proof



You do not need to Replace Your Mortgage. Can You Pay Off Your Mortgage in 5 to 7 Years? Fox News and Jordan Goodman Plain, Simple Proof! In very …

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  1. Why are people stuck in their old ways. It works..A Heloc is just a different way of paying your mortgage..Ex I bought my house for 154.000 6 years back now my house is worth 240,000. Invest your money it's yours. Use your Heloc and buy another property rent it out..

  2. Is the main idea behind this practice that on a home mortgage loan, those first ten years or so almost no money goes on the principal? And on a HELOC, the payment puts much more towards the principal? We put extra money on our loan principal from the beginning and have made some progress at reducing the principal, but still looking at many more years of payments.

  3. As the expert stated, there is a great temptation to use the money for other things. MOST people pay off LESS because they don't have the discipline or they use the equity as an emergency fund.

  4. most people dont realize that in their mortgage agreement there is a term called Prepayment Privileges (depends on lender the term may vary but normally it allow you to prepay your mortgage principal up to 15 or 25% per year and also allow you to increase your mortgage payment also 15 to 25% ) so if you do it consistently and disciplinally you should pay it off in like 4 to 5 years. It all about whether you have money or you dont l. No magic around here

  5. Sounds too good to be true, and it is! A little math with show you that 4 yrs x 12 mo = 48 mo. + 9 mo. = 57 mo. x $708.33 = $40,374.81. Now please explain how you pay off a $212K loan (plus 4% interest) by making $40K of payments?? I'm not sure what this guy's angle is, and what's in it for him, but he's flat out lying on national TV.

  6. The company "Truth In Equity" that sponsors and promotes this strategy has been in business for over a decade and has helped thousands of homeowners pay off their homes in a fraction of the time. This strategy works. Anyone can go to their website, fill out a profile and receive an immediate and FREE analysis comparing conventional practice to the strategy results. The website even allows visitors to communicate with real customers. The truth is in the proof and anyone refuting the mathematics is a Flat Earth believer or very closed minded. Dont listen to rubish, get the facts.

  7. Yes interest rates on Helocs are variable but we are at such low historical rates…. Even with the Fed raising interest rates, it will take a year for them to raise rates 1% ??? If you follow the plan and payoff your house in less than 5 years then who cares what cap is on a Heloc.

    All I can say is that I am doing a modified version on this plan and it is working…. My credit union offered my Heloc at 1.99% for the first year so I do not see how I can go wrong…. I am very cash flow positive, stable job, excellent credit. So far I saved over $100k in interest payments. Instead of having thousands sitting in the bank earning no interest, The Heloc freed it up to payoff a chuck of my mortgage. Plus the Heloc allows me access to thousands if I need them for some reason, as I leave a few thousand available on the Heloc.

    Dave Ramsey, Suze Orman and Johnathon Pond all believe in paying off mortgages early provided you have no other debt, are saving for retirement, save for kids college, etc… Ric Edelman believes in keeping the cheap money mortgage as long as possible and invest the money that would otherwise be used to payoff the mortgage. I believe the Edelman method works if you invest with discipline for the full 30 years. But with the stock market at high valuations, I would say the safe bet is to payoff the mortgage. Bond investments tend to lose money when interest rates rise.

    Do the research and make up your mind…. I will be done paying mine off in less than 4 years if things go as planned. Life happens!

  8. Hi, I was skeptical too. I did research for years before applying the strategy. It works, all you have to do is understand exactly how the interested is calculated on both products with different balances on each debt tool and calculate the interest. Math don't lie. It gets interesting when you do the math. There is more to it, if you would like to understand it more call me. 808-954-2111

  9. If you are still confused you need to do more research. The strategy will only work if you had positive cash flow, more than 20% equity in your home to open a HELOC, and good credit score. One guy I found on Youtube will show you many ways and not just a HELOC, he will go in detail to make more sense for you. Search for VIP FinancialEd.

  10. HOw much extra per month did you have to spend? Multiply the monthly extra by 84 months (new adjusted term). If you paid and extra 2k per month that would be an extra 168k. If you had that kind of money laying around why not just pay for the house? I'm doubting the claim. But… I don't know the numbers. If you borrowed 100k at 4% for 30 years you'd have a $477.42 per month principal/interest payment. To pay off in 7 years you would have to pay an EXTRA $890.00 per month. Plus your normal 477.42 equallying 1,367.42. I'm doubting your claims. You had to find an EXTRA $74,760.00 to do that? Where did it come from? In this scenario, Income and Expenses being equal and relative to the loan size it would be done in 4 years and 3 months with out the need for and EXTRA 890.00 per month. My skepticism in your claim and math is greater than your skepticism in a HELOC. A HELOC is just a line of credit where money can be paid in or out. Its just a tool.

  11. They forgot to mention that most HELOCs are variable interest rates. Although the prime rate in the U.S. hasn't changed in many years, you would be foolish to think rates are going to stay where they are at for the next 5-10 years. Most HELOCs have caps at 18.99%.

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