TOP 10 QUESTIONS WE GET ASKED ABOUT PAYING A MORTGAGE OFF EARLY WITH A FIRST LIEN HELOC
After conducting thousands of calls with homeowners wanting to know the best way to pay their home off faster using a first lien heloc, here are the top 10 questions we get. 1. HOW DO I TAKE MONEY OUT OF MY FIRST LIEN HELOC? Many banks offer debit cards/checks/credit cards associated with your HELOC. Just…
Read MoreHow To Start An Online Business Like Replace Your Mortgage
Date: April 19th, 2020 From: David “Tired of this shutdown” Dutton Location: About 8 minutes from Franklin, TN Pictured above is my daughter and I in our driveway. This is a chalk drawing her and her friends created. Did you know chalk is the new toilet paper? Try finding it. Who knew? By the way,…
Read MoreHow Paul in Arizona Paid Off $13,100 of Principal in 4 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year fixed mortgage with a beginning balance of $178,560. After 22 payments, our balance was $172,687. What is the current status of your HELOC and how many months did it take you to achieve it? I added some credit card…
Read MoreHow Kapil in New York Paid Off $10,000 of Principal (and Bought a $150,000 Investment Property) in 1 Year
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $450,000. When we joined RYM, we had $430,000 in remaining principal balance after paying our monthly payment for 2 years. What is the current status of your HELOC and how many months did…
Read MoreHow Joe in Colorado Paid Off His Home ($214,000) in 24 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We were 4 years in on a 30-year mortgage with a remaining balance of $214,000. What is the current status of your HELOC and how many months did it take you to achieve it? We began our RYM journey on October 31, 2016,…
Read MoreHow Malik in Texas Paid Off $43,900 in 1 Month
What was your mortgage situation prior to starting with Replace Your Mortgage? We were paying on a 25-year mortgage starting at $185,000. After paying into it almost 4 years, our remaining principal balance was $173,000. What is the current status of your HELOC and how many months did it take you to achieve it? In…
Read MoreHow Matthew in California Paid Off $32,000 in Principal in 5 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? I was 10 years into a 35-year $343,000 mortgage. When I joined RYM, I still owed $312,000. What is the current status of your HELOC and how many months did it take you to achieve it? In the 5 months, since joining RYM…
Read MoreHow James in Connecticut Paid Off $50,000 of Principal in 10 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 7/1 ARM with a balance of $500,000 when I joined, and we were in the process of refinancing. What is the current status of your HELOC and how many months did it take you to achieve it? After about 10…
Read MoreHow Michael in Oregon Paid Off $20,000 of Principal in 3 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $351,000. 2.5 years later we were down to $336,000. What is the current status of your HELOC and how many months did it take you to achieve it? After only 3 months, we…
Read MoreHow Roger in California Paid Off $27,000 of Principal in 4 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage of $230,000 and only paid down $7,000 of principal after 7 years. What is the current status of your HELOC and how many months did it take you to achieve it? After 4 months, we have lowered our…
Read MoreHow Chris in Colorado Paid Off $8,000 in Principal in 2 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $335,000. When we joined RYM, we had $305,000 in remaining principal balance after paying our monthly payment for 4 years. What is the current status of your HELOC and how many months did…
Read MoreHow Brandon in Missouri Paid Off $49,000 of Principal in 10 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage. When we joined RYM, our balance was $278,000 after making our monthly payment for approximately 2 years. What is the current status of your HELOC and how many months did it take you to achieve it? After 10…
Read MoreHow 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…
Read MoreHow Kendall in Washington Paid Off Consumer Debt and Bought a Rental Property
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $374,000. Our remaining balance after paying our traditional mortgage for nearly 4 years was $350,000. What is the current status of your HELOC and how many months did it take you to achieve…
Read MoreHow Mark in Ohio Paid Off $36,000 of Principal (and Spent $10,000 on Home Improvements) in 1 Year
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage for $450,000. We had about a $436,000 balance after paying 13 payments for 1 year. What is the current status of your HELOC and how many months did it take you to achieve it? Our balance is $400,000…
Read MoreHow Brandon in Indiana Paid Off $6,065 in Principal and Bought a Rental Property
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with an outstanding balance of $128,854. What is the current status of your HELOC and how many months did it take you to achieve it? We have been using our HELOC to purchase rental properties. We have $24,499…
Read MoreHow Jason in Illinois Paid Off $50,000 in Debt (Including His Wedding) in 5 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year fixed-rate mortgage at 3.375%, with a starting balance of $135,000. We had $122,000 left on our mortgage after paying on it monthly for 5 years. What is the current status of your HELOC and how many months did it…
Read MoreHow Ryan in Florida Paid Off $174,000 of Principal in 14 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We didn’t have a mortgage prior to starting with Replace your Mortgage. We utilized the strategy as new homeowners. What is the current status of your HELOC and how many months did it take you to achieve it? After 14 months, we have…
Read MoreHow James in New Jersey Paid Off $10,000 of Principal (and 2 Car Loans, Student Loans and Credit Cards) in 3 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a $370,000 balance after paying our monthly payment for 2 years. What is the current status of your HELOC and how many months did it take you to achieve it? We got our HELOC 3 months ago.…
Read MoreHow Frances in Utah Paid Off $17,000 of Principal in 3 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a balance of $230,000. When we joined RYM, we had $210,000 remaining in principal after paying the monthly payment for 5.5 years. What is the current status of your HELOC and how many months did it take…
Read MoreHow David in Minnesota Paid Off $40,000 of Principal in 9 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $205,000. It was $182,000 after 5 years of payments. What is the current status of your HELOC and how many months did it take you to achieve it? In 9 months, we reduced…
Read MoreHow Jason in Ohio Bonded with His Wife Because of RYM
What was your mortgage situation prior to starting with Replace Your Mortgage? We bought a new build with a $250,000 30-year mortgage at 4.85%. When we joined RYM, we had about $226,000 of remaining principal balance after paying our monthly payment for 8 years. What is the current status of your HELOC and how many…
Read MoreHow Ben in Alabama Paid Off $146,000 of Principal in 13 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $337,000. When we joined RYM, we had $293,000 in remaining principal balance after paying for 4.5 years. What is the current status of your HELOC and how many months did it take you…
Read MoreHow Kristina in Florida Paid Off $112,000 of Principal in 2 Years
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year fixed mortgage of $225,000. When joining RYM, our remaining balance after 4 years of payments was $187,000. What is the current status of your HELOC and how many months did it take you to achieve it? We currently have…
Read MoreHow Beth in Ohio Paid Off $13,000 of Principal in 4 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year $100,000 mortgage on the house we bought in 2007. We refinanced to a twenty year $72,000 mortgage in 2017. What is the current status of your HELOC and how many months did it take you to achieve it? Hmmm……
Read MoreHow Ruben in Colorado Paid Off $17,000 of Principal in 11 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage starting at $130,000. When we joined RYM, we had a $115,000 remaining principal balance after paying our monthly payment for 10 years. What is the current status of your HELOC and how many months did it take you…
Read MoreHow Matt in California Paid Off His $350,000 Home in 2 Years
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year fixed-rate mortgage for $385,000. We started RYM in 2016 with 17 years and $320,000 principal remaining. What is the current status of your HELOC and how many months did it take you to achieve it? We got a $660,000…
Read MoreHow James in South Dakota Paid Off $13,850 of Principal in 9 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage for $180,000. We paid on it for 9 months before joining RYM. What is the current status of your HELOC and how many months did it take you to achieve it? We closed on our $185,000 HELOC on…
Read MoreHow Paolo in California Paid Off $19,000 of Principal in 9 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year VA mortgage with a starting balance of $345,000. When we joined RYM, we had $331,000 in remaining principal balance after paying our monthly payment for 3 years. What is the current status of your HELOC and how many months…
Read MoreHow Jennifer in Texas Paid Off $30,000 of Principal In 2 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $190,000. When we joined RYM, we had $168,000 remaining after 5.5 years. What is the current status of your HELOC and how many months did it take you to achieve it? After 2…
Read MoreHow Brady in Florida Paid Off $106,000 in Principal in One Year
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage that we just refinanced with Quicken Loans. After learning about the RYM Strategy, we decided to get a HELOC. We had less then $10,000 in savings. What is the current status of your HELOC and how many months…
Read MoreHow Ryan in Florida Paid Off $15,000 in Principal (Plus His Daughter’s Tuition) in Just Over a Year
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $270,000. When we joined RYM, we had only paid on it for about a year. What is the current status of your HELOC and how many months did it take you to achieve…
Read MoreHow Kingsley in Colorado Paid Off $62,000 of Principal in 12 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a fixed-rate of 3.85% and balance of $425,000. I just refinanced 1 month prior to learning of Michael’s strategy. What is the current status of your HELOC and how many months did it take you to achieve…
Read MoreHow Vincent in New York Paid Off $25,000 of Principal in 7 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage for $421,000 when we joined RYM. We were down to $415,000 balance after 1 yearm when we refinanced to a HELOC. What is the current status of your HELOC and how many months did it take you to…
Read MoreHow Geoff in California Paid Off $130,669 of Principal in 19 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? In January 2017, we had a 7-year interest-only adjustable-rate mortgage, and a second mortgage with a total balance of $444,000. What is the current status of your HELOC and how many months did it take you to achieve it? In February 2017. we…
Read MoreHow Replace Your Mortgage Helped Stephen Pay His Medical Bills From a Car Crash
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $115,000, with a remaining principal balance of $104,000 after paying it down for four years. What is the current status of your HELOC and how many months did it take you to achieve…
Read MoreHow Jocelyn in Utah Paid Off More than $98,000 in Principal
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting principal balance of $175,000. When I joined RYM, my balance was $169,000. I had to bring it down to $149,000 in order to qualify for the HELOC. What is the current status of your HELOC…
Read MoreHow Robert in California Paid Off $15,000 of Principal in 18 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with $300,000 remaining after 2 years of monthly payments. What is the current status of your HELOC and how many months did it take you to achieve it? After 18 months with a HELOC, we have reduced our…
Read MoreHow Kyle in Alaska Paid Off $16,000 of Principal in 1.5 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage starting at $425,000, with balance of $408,000 after just under 2 years. What is the current status of your HELOC and how many months did it take you to achieve it? We owe $392,000 and have only had…
Read MoreHow Jerry in Washington Paid Off $65,000 of Principal in 22 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage of $302,000. When we joined RYM, it was a balance of $282,000 after 7 years of paying our mortgage AND paying an extra $750 per month. What is the current status of your HELOC and how many months…
Read MoreHow Thomas in Alaska Paid Off $43,000 of Principal in 2 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? I had a 30-year FHA mortgage with a starting balance of $530,000. When we joined RYM, we had a $515,000 remaining balance after paying our monthly payment for 22 months. What is the current status of your HELOC and how many months did…
Read MoreHow James in Alabama Paid Off $10,500 of Principal in 3 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had 30-year mortgage. We put $20,000 down, with a balance of $218,000 after 9 years. What is the current status of your HELOC and how many months did it take you to achieve it? We closed on our HELOC on July 31,…
Read MoreHow to Buy Rentals using Other People’s mortgages (Nate Lambert’s Video)
How Luke in California Paid off $137,000 of Principal in 12 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year FHA mortgage with a starting balance of $275,000. We joined RYM about 1 year ago. What is the current status of your HELOC and how many months did it take you to achieve it? After approximately 12 months, we…
Read MoreHow David in North Carolina Paid Off $60,000 of Principal in 12 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? I had 28.5 years left on a 30-year mortgage. My balance was about $278,000. What is the current status of your HELOC and how many months did it take you to achieve it? It took about 5 months after joining RYM to close…
Read MoreHow Robert in Colorado Paid Off $90,000 of Principal in 2 Years
What was your mortgage situation prior to starting with Replace Your Mortgage? We had 30-year mortgage with a starting balance of $240,000. What is the current status of your HELOC and how many months did it take you to achieve it? After 24 months, we have reduced the principal from $240,000 to $150,000. What was…
Read MoreHow Jeff in Wisconsin Paid Off $22,055 of Principal in 2 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We joined RYM about one year after obtaining a 30-year mortgage on our townhome At that time, we had 29 years remaining with a $168,000 principal balance. What is the current status of your HELOC and how many months did it take you…
Read MoreHow David in California Paid Off $54,000 of Principal in 11 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage (VA Loan) at 3.25%. Our balance was $364,000, and we were paying an extra $500 per month against our mortgage. At that rate, we were going to pay it off in 22 years. What is the current status…
Read MoreHow Felix in Iowa Paid Off $14,000 of Principal in 5 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $284,000. We had a balance of $274,000 in remaining principal balance after paying our monthly payment for 1.5 years. What is the current status of your HELOC and how many months did it…
Read MoreHow Matthew in Florida Paid Off $70,000 of Principal in 15 Months
What was your mortgage situation prior to starting with Replace Your Mortgage? We had a 30-year mortgage with a starting balance of $290,000. When we joined RYM, we had $285,000 in remaining principal balance after paying our monthly payment for 1.5 years. What is the current status of your HELOC and how many months did…
Read More