This simple strategy is astounding - almost too good to be true - if we didn’t show you the simple math below. If that weren’t enough, we’ll be covering advanced strategies to pay off the home in even less time!
How? We just change where our money is held - nothing else! We keep our money in the bank’s operating account, just like your checking or savings accounts, but this is called a Home Equity Line Of Credit (HELOC). A HELOC, like any checking account, allows your money to freely go in and out.
So if a person needed money, they could go down to their bank and say, “My house is worth $100K and I owe $50K on that mortgage with you - can I get $25K?” And they’d give $25K, same day, and that person would pay interest on $75K now.