How Robert in Minnesota Paid Off $50,000 of Principal in 11 Months

What was your mortgage situation prior to starting with Replace Your Mortgage?

We had 30-year mortgage with a balance of $265,000.

What is the current status of your HELOC and how many months did it take you to achieve it?

After 11 months, we’ve reduced our principal balance by $50,000.

What was your biggest concern when deciding to join RYM?

I was concerned about the potential of rising interest rates. The calculator shows that rising interest rates will have an effect, but the effect is reduced as you’re paying down the principal.

How has using the RYM strategy changed your life?

RYM was the first step in a series of steps that opened my eyes to a smarter way to manage my money to turn a line of credit into my own bank, which then gives me the flexibility to enact other options like Infinite Banking or investment opportunities.

What advice would you give to a homeowner considering trying the RYM strategy?

With today’s rising interest rates, it’s a little bit of a harder sell, but the math still works out when you compare the cost of 30 years of interest vs 5-10 years of RYM.