What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 30-year mortgage with a starting balance of $239,900.
When I joined RYM, I had $231,452 in remaining principal balance after paying my monthly payment for 35 months.
What is the current status of your HELOC and how many months did it take you to achieve it?
I took out $270,000. I paid off all outstanding debt and made some investments.
After 5 weeks, I have reduced my principal balance to $263,000
What was your biggest concern when deciding to join RYM?
My biggest fear was hidden terms. But, after talking with Steve and doing some due diligence on my part, I was surprised to find out how straightforward the process was.
How has using the RYM strategy changed your life?
I am a single father who was overwhelmed living paycheck to paycheck. I was able to use this process pay off all outstanding debts, invest and take my kids on an amazing vacation.
I have a controlled method of paying down the debt, seeing actual principal reduce.
I was even able to start a side business that has brought in additional income without the burden of additional loans.
What advice would you give to a homeowner considering trying the RYM strategy?
Trust the math. Pick up the phone and ask questions. Don't settle for what you don't want.
If you can wrap your head around factional reserve banking practices, the banks want to work with you. Once you are taught the methods that Michael gives you, you will be the bank's new best friend.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $325,000.
When we joined RYM, we had $315,000 in remaining principal after paying our monthly payment for 4 years
What is the current status of your HELOC and how many months did it take you to achieve it?
After 12 months, we've reduced our principal balance to $252,000.
What was your biggest concern when deciding to join RYM?
I was concerned about being on too tight of a budget and not living the same lifestyle but, after joining and experiencing the process, I came to find out my budget and lifestyle felt the same as before I had a HELOC.
How has using the RYM strategy changed your life?
I can actually see my home being paid off in the near future -- and being able to use the equity to invest in other properties.
RYM is a perfect stepping stone to get into what I've always wanted to do, real estate investing.
What advice would you give to a homeowner considering trying the RYM strategy?
The system works. It's simple math. You'll be doing your future finances a huge benefit the sooner you take advantage of the RYM strategy.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had the traditional 30-year fixed mortgage with no realistic hope of ever paying it off.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 5 months, we have paid over $100,000, due to bonuses.
The remaining balance is just over $200,000, and our house is valued at $450,000.
What was your biggest concern when deciding to join RYM?
RYM is completely different than everything we were taught growing up. Now we are very confident and feel like we have more control of our lives.
How has using the RYM strategy changed your life?
We have hope and an incentive to pay off our house.
We also have control and a way to manage our finances where our house will be paid for so much sooner. Truly liberating.
What advice would you give to a homeowner considering trying the RYM strategy?
Talk to others and follow the guidelines in the training modules.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $369,500, and a remaining balance of $280,350 after 13 months.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 13 months, we’ve reduced our principal by $86,000.
What was your biggest concern when deciding to join RYM?
Our only worry was conceptualizing increasing interest rates over time.
We have a better understanding that we are interest-immune, and it's working great.
How has using the RYM strategy changed your life?
We have a positive outlook on paying off our only debt within 4.5 years and having flexibility to invest, options unlimited.
What advice would you give to a homeowner considering trying the RYM strategy?
Start having conversations with banks and don’t wait. Time is money, cash is king and you’ll live with more peace knowing the biggest asset is closer to being owned outright.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 20-year mortgage, with a starting balance of $180,000.
When we joined RYM in March of 2018, we owed $143,000 after 5 years of payments.
What is the current status of your HELOC and how many months did it take you to achieve it?
After paying off all other debt AND paying as many recurring bills up for a year (life insurance, car and home insurance, etc.), we are at $164,000.
We started at $171,000 in April 2018.
What was your biggest concern when deciding to join RYM?
It just sounded too good to be true. So I needed some time to process all the information on YouTube.
We had our discovery call, and once I plugged in all of our numbers, I knew that this strategy was solid.
How has using the RYM strategy changed your life?
RYM simplified everything. We have peace of mind, knowing our equity in our home is available for us to use should that need arise.
We are also excited to know, the further along we get in paying off our mortgage, we can explore investment opportunities.
What advice would you give to a homeowner considering trying the RYM strategy?
Make the phone call to RYM and let them plug in your numbers. They will give you an honest assessment of how the strategy can work for you.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage at $248,000.
When we started with RYM, the remaining principal balance was $230,000 from 5 years of payments.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 10 months of using this strategy, we have reduced the principal by $17,000.
What was your biggest concern when deciding to join RYM?
Our biggest concern was this is a different way of banking.
It's odd looking at my checking account and seeing a zero balance. And living off of a credit card is totally opposite of what I was taught growing up.
After looking over my mortgage amortization chart and realizing that, not only do I pay my house off, but I buy the bank one also, just chapped my ass.
The math was with RYM sound and speaking with Randy drove it home for my wife and I.
How has using the RYM strategy changed your life?
RYM has changed our lives for the better. Everything being automated is a nice thing for sure.
What advice would you give to a homeowner considering trying the RYM strategy?
Have an open mind and go for it.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $225,000.
When we joined RYM, we had $175,000 in principal remaining after two refinances and 13 years of payments.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 13 months, we have reduced our principal balance to $133,000.
(I have paid off as much in the last year as I did in the last 13 years with a mortgage.)
What was your biggest concern when deciding to join RYM?
Honestly, I had no fears. Thanks to you guys, I understood my situation and could see no negatives to eliminating my mortgage this way.
How has using the RYM strategy changed your life?
We have been wanting to put an addition on the house for 10 years but were never able to build up the equity needed to do that.
Now I have over $80,000 available in my HELOC, and I am interviewing builders.
What advice would you give to a homeowner considering trying the RYM strategy?
Do it! 🙂
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 30-year mortgage through FHA. My original balance was $250,000 in 2011, with a balance of approximately $220,000 as of May 2017.
What is the current status of your HELOC and how many months did it take you to achieve it?
My original starting amount on my HELOC was $235,000. When I took out my HELOC, I paid out some bills.
After 17 months, my principal is $179,000.
What was your biggest concern when deciding to join RYM?
I was worried about the unknown with RYM. Not many people knew about it, so talking to someone with experience in my everyday life was difficult.
How has using the RYM strategy changed your life?
I feel like I have more freedom with my finances. I'm still paying down my mortgage, but I don't feel as restricted or like I'm living paycheck to paycheck anymore.
What advice would you give to a homeowner considering trying the RYM strategy?
RYM is definitely worth it, but you do need to stay disciplined.
I've learned a lot about how to use the strategy, but I'm sure there are more ways to take advantage of it.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We bought our home for $146,000 on a 30-year mortgage. We paid for 3 years and had just refinanced with 19-year mortgage before RYM.
We paid on that for 4 months, with only $350 / month going towards principal.
What is the current status of your HELOC and how many months did it take you to achieve it?
After consolidating all debt, our beginning balance was $173,000.
We were averaging over $800 / month against principal. Our balance is $160,000 after 16 months.
What was your biggest concern when deciding to join RYM?
We were worried about the interest, how it would affect the principal and, if my I dropped my second job, would the strategy still work?
How has using the RYM strategy changed your life?
We have used the HELOC to finish some projects in the short term.
We have seen how the principal still goes down faster, and we have used credit cards to our advantage for the first time.
What advice would you give to a homeowner considering trying the RYM strategy?
If your numbers work on the calculator, just do it.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $285,000.
After paying for 9 years, the remaining principal balance was $261,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
We started in March 2018. I consolidated another HELOC for our starting balance of $302,000.
In six months, we have reduced our balance by $35,000.
What was your biggest concern when deciding to join RYM?
The biggest obstacle was convincing my spouse because we did not know anyone else that was doing it. It was a YouTube myth.
But, after seeing the calculations and showing a few financially savvy friends, I won her over and executed.
How has using the RYM strategy changed your life?
RYM made paying off our home enjoyable. We see progress.
I have something other than the weather and football to talk to people about.
It gives people options, whether you are looking to be debt-free or to use your house as an asset to make more income.
The 30-year mortgage option is a scam. Many people don't have a 30-year mortgage. They end up with a 40-year mortgage because they refinance a couple of times.
The RYM Facebook group, communicating together, also lets you know about successes and challenges. There is a community to reach out to that is not just coworkers, family or a neighbor.
What advice would you give to a homeowner considering trying the RYM strategy?
Don't wait. It does work. Stay the course. Have discipline. Spread the word.
I asked mortgage brokers, when I was investigating, to poke holes in the strategy. None of them could find anything. Start it today.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage at 3.875% with a starting balance of $560,000.
We were 4 years into the loan and had hardly made a dent in the principal.
What is the current status of your HELOC and how many months did it take you to achieve it?
We are approaching the one-year mark since we established the HELOC. We have reduced our principal balance by approximately 40,000.
What was your biggest concern when deciding to join RYM?
The idea of a variable interest rate had us uncomfortable and was probably our biggest concern. In the past, we avoided variable rates like the plague.
The strategy does prove, when executed properly, the interest rate is not as big of a concern as we thought (even in our current climate of raising interest rates).
How has using the RYM strategy changed your life?
The strategy has given us peace of mind. We know we are on a much faster track to achieving our financial goals. The future is bright.
What advice would you give to a homeowner considering trying the RYM strategy?
The strategy takes discipline first and foremost. But, if you follow the strategy as taught, you will see results much faster than you thought possible.
In the long run, you will be able to build wealth and have financial freedom much faster and to a greater degree.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 30-year mortgage with a starting balance of $148,000, and a $147,000 principal balance after paying the monthly mortgage payment for 5 months.
What is the current status of your HELOC and how many months did it take you to achieve it?
The opening balance of my HELOC was $148,580, and it was opened late in the end of August 2018.
I put all my liquid cash into it, as well as all my income since then. My current principal balance is $74,000.
What was your biggest concern when deciding to join RYM?
I had already been doing a lot of research and reading about velocity banking.
And I had a friend who used this strategy successfully for many years, so I really had no concerns to overcome in joining RYM. I really just wanted access to the bank list and the Facebook group.
How has using the RYM strategy changed your life?
It has allowed me to put the concern of the house payment on the back burner and focus on the bigger priority of learning how to build wealth for retirement.
What advice would you give to a homeowner considering trying the RYM strategy?
If you have more money at the end of your bills every month (at least $100) and the discipline to stick with a plan, then this plan is really something to consider.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had actually just refinanced from a 30-year mortgage to a 15-year mortgage about 6 months before moving into a HELOC. (I had 14 years and 6 months left on my mortgage.)
What is the current status of your HELOC and how many months did it take you to achieve it?
It took me about 45 days to acquire the loan. For the past 90 days of having the HELOC, I have managed to cut out $9,000 from my principal.
What was your biggest concern when deciding to join RYM?
I definitely was afraid that RYM was some kind of scam. I mean, if it is this easy, why doesn’t everyone do this?
I work in finance, so I knew that many people don’t even consider uncommon paths to wealth. After speaking with my consultant, I couldn’t help but get excited about the opportunity.
How has using the RYM strategy changed your life?
Using RYM, I was able to cut off $1,750 a month in expenses. I am about to knock out another $1,000 on top of that.
It also makes having actual cash available to purchase rental properties a reality. I feel like I can actually breathe.
What advice would you give to a homeowner considering trying the RYM strategy?
Use your own common sense.
It isn’t that this is too good to be true. It is that the banks don’t make money on this type of loan. Take control of your life.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a starting balance of $152,000 and got it down to $132,000 after 7 years or so. It was a 30-year mortgage.
What is the current status of your HELOC and how many months did it take you to achieve it?
After about 9 months, we have a balance of $80,000.
What was your biggest concern when deciding to join RYM?
My biggest concern was the cost. I asked myself, "Was it worth it?" and "Could I do this on my own without RYM?"
I ended up paying because the ease of mind was worth it.
How has using the RYM strategy changed your life?
RYM has given me something to work towards and look forward to.
What advice would you give to a homeowner considering trying the RYM strategy?
I would tell them to start ASAP. My house would be paid off had I started this when I bought my house.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with starting balance of $247,969.
When we joined RYM, we had $242,000 in remaining principal balance after paying our monthly payment for 1 year.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 7 months, we have reduced our principal balance to $201,000.
What was your biggest concern when deciding to join RYM?
I was not sure if this would work, and it was hard to convince my wife to join this program. But now we are happy we joined this program.
How has using the RYM strategy changed your life?
I had a dream of starting real estate investing, but with a mortgage it was hard to do financially.
With the RYM program, we are planning to buy our first rental property before the year ends.
What advice would you give to a homeowner considering trying the RYM strategy?
You should join the program.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $245,000.
When we joined RYM, we had $236,000 left in remaining principal 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?
After 3 months, we have reduced our principal balance to $150,000.
What was your biggest concern when deciding to join RYM?
At first, we thought we could have done this on our own just as easily. But we were excited about the support group available.
How has using the RYM strategy changed your life?
We feel more comfortable with expenses and our financial goals.
What advice would you give to a homeowner considering trying the RYM strategy?
It’s a no-brainer.
Do your research and calculate the numbers. Once you really understand the math, you will come to the same conclusion: you would be a fool not to do the RYM strategy.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 15-year mortgage of $220,000.
We had $207,918.29 remaining after paying monthly payments for about 1 year.
What is the current status of your HELOC and how many months did it take you to achieve it?
We included $72,000 for a motor home with the mortgage payoff, so we increased the HELOC to $300,000.
After 9.5 months, I have reduced that to $209,000, giving me available equity of about $91,000.
What was your biggest concern when deciding to join RYM?
I was just scared and wondered if my husband would be onboard with it. But, with him being an engineer, he got the math and we went for it.
He passed away in June, but I am confident enough in the system that I am refinancing one of our investment properties to a HELOC.
How has using the RYM strategy changed your life?
I had no financial worries when my husband passed away. With so much to take care of to settle his estate, it was a relief not to worry about money.
What advice would you give to a homeowner considering trying the RYM strategy?
Run the numbers. It may not be the right time for everyone. I think cash flow is very important so, if you are living paycheck to paycheck, you may need to get your spending under control first.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year with balance of $265,000 when we joined RYM, as this was a fairly new mortgage.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 12 months, we have reduced principal to $250,000, which is killer considering we have also paid down other debt during that time.
What was your biggest concern when deciding to join RYM?
Interest rates. But, after doing the math and going over the videos, it just made sense. It is true that we are interest-rate-immune.
How has using the RYM strategy changed your life?
RYM has taught me how to make my money work for me.
It has showed me that a “normal” person like me can use a simple strategy to open up a number of investment opportunities. That gives me great hope for the future.
What advice would you give to a homeowner considering trying the RYM strategy?
Just review the math and strategy and reach out to other members for real-life, real-time references.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $278,000.
When we joined RYM, we had $248,000 in remaining principal balance after paying our monthly payment for 6 years.
What is the current status of your HELOC and how many months did it take you to achieve it?
Our initial HELOC was 80% of $310,000 ($278,000). We owed $247,000 at first.
We also added our vehicle ($16,000) onto the HELOC at signing. Total, we owed $263,000.
After 7 months, we have reduced our principal balance to $250,000.
What was your biggest concern when deciding to join RYM?
I wasn’t concerned after doing the research and watching the videos.
My initial concern about RYM was the upfront cost (for the training), but we have made that up and then some in savings by switching from a mortgage to a HELOC.
How has using the RYM strategy changed your life?
It has saved our family a lot of money in wasted interest paid to the bank.
It has also given us financial flexibility to be able to move money in and out of the HELOC when needed to fund other money-making projects.
What advice would you give to a homeowner considering trying the RYM strategy?
Start at your own pace. No need to apply the basic and advanced techniques all at once... baby steps.
You are saving on day one after switching to the HELOC. Then implement step two.
Get a good handle on that and then on to step three. Pretty soon, you’ll have mastered the whole strategy from basic to advanced.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $165,000.
When we joined RYM, we had $160,000 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 it take you to achieve it?
We paid off our car, so we started with a balance of $175,000.
After 12 months, we have reduced our principal balance to $150,000 (more than what we had done in 4 years with our traditional mortgage).
What was your biggest concern when deciding to join RYM?
We were concerned about the cost of the program, how long it would take to recoup it, as well as the variable interest rates since we have been told for years to look for the lowest interest rate possible.
Once our consultant ran the calculator, it totally made sense.
How has using the RYM strategy changed your life?
Having the flexibility to pay as much or minimum for a month, if needed, has given us peace of mind.
Having access to our equity line also provides peace of mind.
What advice would you give to a homeowner considering trying the RYM strategy?
Run your numbers on the calculator. Numbers don't lie. Run worst-case scenarios, and you will see that RYM is still a much better option.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-yr mortgage with a balance of $466,000.
When we joined RYM in the first quarter of 2018, we had a $347,000 principal balance.
What is the current status of your HELOC and how many months did it take you to achieve it?
In roughly six months or so, we have been able to pay off $9,000 in credit card debt and reduced our principal from $347,000 to $328,000.
That's what I call progress. I am so happy we decided to join RYM.
What was your biggest concern when deciding to join RYM?
Initially, I could not wrap my head around the math but, as I examined the details more closely, it began to click. From that point on, it was a no-brainer.
How has using the RYM strategy changed your life?
Using RYM has made us realize that financial freedom is obtainable. My wife and I are very excited about our financial future. That was not the case a year ago.
What advice would you give to a homeowner considering trying the RYM strategy?
If you are serious about having financial freedom, then give RYM a try.
There is no risk. You just need to be disciplined. If you use the strategy as taught by RYM, you will be successful.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $388,000.
When we joined RYM, we had a $339,000 remaining balance after 7-plus years of making monthly payments.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 13 months, we have reduced or principal balance to $99,900 (and I am ecstatic).
NOTE: I came into $200,000 after selling an old house. I resisted the urge to go out and buy a Corvette ZR-1 and, instead, put every penny into the HELOC payments like I have been trained by RYM.
What was your biggest concern when deciding to join RYM?
A skeptical coworker of mine said that the whole HELOC thing that's online is "sketchy" at best and warned me to avoid it. My wife also felt that it was too good to be true.
I chose to use my better judgment and join anyway (after convincing my wife). My wife is now very happy, and my coworker has asked me to teach him the program. I declined his request and told him to join RYM and learn from the pros instead.
How has using the RYM strategy changed your life?
At the current moment, I'm kind of broke because I put every penny into the HELOC. We've become so obsessed in getting it paid off that we have been denying ourselves just about everything (like vacations, restaurant meals, toys, etc).
So, currently, my life is slightly changed for the worse, but I have my eye on the prize. At the current rate, we will own this home free and clear in just 2 more years.
The thought of that excites me. I know that my life will truly change for the better at that moment.
What advice would you give to a homeowner considering trying the RYM strategy?
I've told several people how great it is, but I've warned a couple of my spendthrift friends to avoid it if they don't plan to stay disciplined to the plan.
If you have plans on not following the system and are looking to pay the minimum interest only each month so you can buy cool stuff, then don't do it.
If you have a passion for paying off your mortgage and possibly even turn that into rental property purchases, then do it now.
Don't think about it. Just do it. As it is, I'm annoyed that I did not know about RYM eight years ago.
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.
When we joined RYM, we had a remaining principal balance of $103,000 after paying monthly payments for seven years.
What is the current status of your HELOC and how many months did it take you to achieve it?
We had a starting balance of $110,000.
My wife needed a another car, which was $14,000. And she enrolled in school for an additional certification, which was $12,000.
So, in 12 months we paid off $26,000 of debt, and we are back at the original starting point of $110,000.
This would have never happened without RYM.
What was your biggest concern when deciding to join RYM?
Our biggest concern was having access to our money.
The RYM consultant explained how he was using the strategy and the ins and outs of the daily process, which helped us to see the strategy clearly.
How has using the RYM strategy changed your life?
The strategy has given us hope that we won’t be paying on a mortgage for the rest our my lives -- and has opened up the possibility of wealth building through real estate investing, now that we have access to capital that we never had before.
What advice would you give to a homeowner considering trying the RYM strategy?
Do it. Find you a bank or credit union you feel comfortable with and do it.
Don’t worry about a line of credit having every single feature. Any first-lien position line of credit beats a mortgage.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I was just under 2 years into a 30-year mortgage that started at $425,000.
I was at about $400,000 when I joined RYM and replaced my mortgage with a HELOC.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 4 months, my balance is at $373,000.
What was your biggest concern when deciding to join RYM?
My biggest concern (though not THAT big) was the rising interest rate.
How has using the RYM strategy changed your life?
RYM has made me more mindful of where our money is going, and more motivated to pay off my home quickly.
What advice would you give to a homeowner considering trying the RYM strategy?
Simply: DO THE MATH.
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 after paying our monthly payment for 1.5 years.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 5 months, we have reduced our principal balance to $260,000.
What was your biggest concern when deciding to join RYM?
I felt RYM was too good to be true. A scam / ripoff. Uncommon / unheard of, therefore scary and risky when “messing” with finances when they are already “good” and “stable.”
Talking with the consultant about how RYM really works, he assured us there would be a way to get our money back if for any reason we weren’t satisfied.
Hearing there was a Facebook group of real people / members and support / success stories helped.
Hearing Michael was a man of faith was also reassuring, in that he would be acting and giving forward with the knowledge he gained.
How has using the RYM strategy changed your life?
RYM has given me financial peace of mind -- the ability to know I can invest in my home, my immediate family and give back to other friends and family.
What advice would you give to a homeowner considering trying the RYM strategy?
It’s not a scam. It’s real people with real numbers and real success stories.
Trust the process and be strict with your finances. Do your research. Know the ins and outs of your numbers for the past 3-4 months.
Make a goals list to keep motivated and never stop working and adding to it.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $328,800.
When we joined joined RYM, we had $323,266 in remaining principal balance after paying our monthly payment for 12 months.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 12 months, we have reduced our principal balance to $258,266 -- but have utilized the equity to purchase another rental property and handsomely fund our IBC policy.
What was your biggest concern when deciding to join RYM?
Going against the grain and everything I have ever been taught before. But, after speaking with our consultant, the light bulb went off and we never looked back.
How has using the RYM strategy changed your life?
RYM changed the way I think about money, and it has provided opportunities that I thought would only be possible much later in life or never at all.
What advice would you give to a homeowner considering trying the RYM strategy?
Do it as quickly as possible. and ask as many questions as you can.
Also, utilize the whole RYM community, since there are endless opportunities available with this strategy.
What was your mortgage situation prior to starting with Replace Your Mortgage?
When I joined RYM, I had 30-year mortgage with a $100,000 balance.
What is the current status of your HELOC and how many months did it take you to achieve it?
I currently owe $70,000 and paid for a $25,000 top-to-bottom remodel.
What was your biggest concern when deciding to join RYM?
My journey started with me calling banks myself asking about the very thing Michael and David were advertising.
After finding the YouTube channel, I felt that it was worth a conversation. And because there were no products required, no subscriptions etc., along with me seeing the calculator and taking to the very person who was on Youtube (Michael), made me feel their intentions were in the correct place.
Lastly, because payments at the time were via PayPal, I knew that I would either see results or I had nothing to lose.
How has using the RYM strategy changed your life?
RYM is a mindset shift that wasn’t the initial intention.
With going through a tough divorce and, losing my job just prior, I always had an attitude of "I’ll figure it out." But, after this, it was a mindset shift that continues to today.
I have read many books from Nelson Nash (like Becoming Your Own Banker) and others, like The Big Short. Learning about the history of central banking and how money works has literally changed how I’ve approached life daily.
This has allowed me to reach and set new goals. I finished my remodel, paid for it and it's ready for rent. In short, it makes me feel like I’m the only one awake sometimes.
What advice would you give to a homeowner considering trying the RYM strategy?
I have talked to many people about this, and it really bothers me how people are so accepting of the way things are.
So, with that said, I unfortunately only talk about it when people ask, because unless they are open to change, they can’t see the possibilities. (Also, I can’t figure out how people are so irresponsible with money. Very emotional driven decisions.)
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $255,000.
We had about $240,000 remaining when we started RYM, after about 2 years of mortgage payments.
What is the current status of your HELOC and how many months did it take you to achieve it?
After about 2 years, our HELOC is around $210,000.
What was your biggest concern when deciding to join RYM?
No major concerns. It seemed to make sense to us.
How has using the RYM strategy changed your life?
We're reducing our principal much faster, and it feels like we'll be able to make much more progress over time.
What advice would you give to a homeowner considering trying the RYM strategy?
Make sure you have positive income and definitely do it.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $261,000.
We joined RYM with a mortgage balance of $259,000 after making monthly payments for 2 years.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 9 months, we have reduced our initial balance of $276,000 ($259,000 + $17,000 in credit cards) to $258,000. Unbelievable.
What was your biggest concern when deciding to join RYM?
The initial cost, "If it's so good, why is everyone not doing it?", "Why would banks do this (HELOCs) for such a small profit?", "What if interest rates increase?", "Will I lose my tax write offs?" and "What if I need my savings?".
We tried disproving the math for weeks and couldn't.
My wife, a teacher and chairwoman of the Skeptic Society could not find any holes. All our concerns were adequately addressed by Michael and Matt. So we had to do it.
How has using the RYM strategy changed your life?
We no longer worry about paying down our mortgage before retirement. And now we see a faster way to acquire rental / vacation properties to enhance cash flow during retirement.
What advice would you give to a homeowner considering trying the RYM strategy?
Review it carefully. Take it to your biggest naysayers and let them try to find you a better product to accelerate the pay-down of your mortgage.
Have RYM answer all your questions, and you will decide to go with RYM because of the value and peace of mind it brings.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $257,000.
When we joined RYM, we had $249,000 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 it take you to achieve it?
After 23 months, we have reduced our principal balance to $192,000.
That's after we took a vacation, made other investments and fixed up the house a little.
What was your biggest concern when deciding to join RYM?
The biggest concern was to see how it works in reality. You can never tell how things are until you try them.
Our consultant told us that it does make sense in our situation, so we moved forward.
There is always a way out. We could have refinanced into another mortgage if needed.
How has using the RYM strategy changed your life?
It's great. Looks like we'll be able to pay off the house in 5-6 years.
However, I think we just like to have access to a larger amount of money, so we could utilize it for other investments or vacations.
Of course, we are being responsible with how much we spend, so we don't get derailed from our path.
What advice would you give to a homeowner considering trying the RYM strategy?
If you are a responsible person and generate a little more income, then it might be a strategy for you.
Just check the math. It really does work.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage of around $265,000.
When we joined RYM, we had a remaining balance of around $245,000 after paying our monthly payments for 5 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 reduced our principal balance to $208,000.
What was your biggest concern when deciding to join RYM?
We were worried because it was something that we have never heard of and, when I asked around (to other lenders / banks), they said they'd never heard of it either.
But, after talking to the RYM consultant, plus watching all the videos that your team put together, it made it easier to move on with the strategy.
How has using the RYM strategy changed your life?
The RYM strategy gave me FREEDOM.
I was a slave to the financial institutions and now am free from their economic system.
I went from being forced to pay $1,900 a month to now paying $500 a month with your system.
What advice would you give to a homeowner considering trying the RYM strategy?
My advice would be not to "try" it, but to just do it. I promise you won't regret it.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $112,000.
When we joined RYM, we had $111,000 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 it take you to achieve it?
We added our vehicle and some equipment to consolidate our debt, which brought our HELOC debt to a total of 130,000.
After 14 months, we have a principal balance of $47,864.
That's $82,136 paid off in 14 months.
What was your biggest concern when deciding to join RYM?
We had never heard of anything like this, and thought that, if it really worked, why haven't we heard of this before?
But, after learning how it works, we discovered that we couldn't lose. Sure enough, we didn't.
How has using the RYM strategy changed your life?
We will have our home paid off in a very short time, and now we are moving on to investing in rental properties because it is so easy to pay them off in a very short time.
This has changed our financial future forever. We are so grateful that we found you.
After seeing and doing this, we will never go back to a traditional mortgage.
What advice would you give to a homeowner considering trying the RYM strategy?
RYM is the REAL DEAL.
This program works and, if you can follow simple directions, then you WILL pay off your home in a very short time. It's that simple.
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 started with RYM, we had been paying on the loan for 2.5 years and had a balance of $250,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
We have been on the strategy for one year, and we have been able to acquire two rental properties that cash flow $1,950 a month.
What was your biggest concern when deciding to join RYM?
My biggest concern was having no "savings" account.
My research, combined with RYM education, allowed me to overcome that fear.
How has using the RYM strategy changed your life?
It has changed my outlook on getting out of the Rat Race. My goal is now to "retire" in 5 years.
What advice would you give to a homeowner considering trying the RYM strategy?
Think outside the box from what you have always been taught. Learn how money, interest rates, and time can work for you...instead you of working for them.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We were 2 years into a 30-year mortgage through Quicken Loans. Our interest rate was 3.9% and we owed $375,000, with about $47,000 in credit card and automobile debts.
Our home value was $495,000
What is the current status of your HELOC and how many months did it take you to achieve it?
We’re only a few months in. We have paid down our balance by $8,000 so far and our first payment was due September 15, 2018.
We obviously didn’t fall for the “skip a month “ and got a head start on paying down that principal.
What was your biggest concern when deciding to join RYM?
We were worried about RYM being "too good to be true," but the math works.
I talked to my brother-in-law about it because I knew he would poke holes in anything he isn’t familiar with. He has been a follower of a debt/finances guru who has a national radio show that you probably know of.
I answered everything based on my limited knowledge from watching the videos twice each. That confirmed that we’re on to something good, although just unknown to most
How has using the RYM strategy changed your life?
RYM has given me hope that I can set up some retirement other than just selling my house and the property owned by my business.
I’ve trusted God to meet all my needs according to His riches, and I feel like RYM is a part of how He is doing just that.
What advice would you give to a homeowner considering trying the RYM strategy?
Do all the math and be thorough with all the details of your finances.
Don’t fall for the “skip a month of payments." Any bank or credit union is going to charge every cent of interest they can. Jump on putting all your money into the HELOC ASAP.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a $187,000 balance and a second HELOC with a balance of $89,000.
We joined RYM with a total balance of $276,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 2 months, we reduced our principal balance to 262,400.
What was your biggest concern when deciding to join RYM?
After understanding the math concept, I really had no fear.
How has using the RYM strategy changed your life?
The RYM strategy has set me on a course to purchase rental properties, which will in return replace my income (job).
What advice would you give to a homeowner considering trying the RYM strategy?
I would tell them that this is math not magic, so go for it.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had just closed on my first home using a conventional 30-year mortgage at a fixed interest rate of 4.50% in February 2018.
After putting 10% down on a $160,000 purchase, I had financed $144,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
After three months of applying the RYM strategy and utilizing a newly-opened 0% credit card as my primary operating expense account, my HELOC principal balance remains unchanged.
However, my biggest accomplishment was paying the principal down enough to pay off a student loan in full (approximately $13,000 balance remaining, paired with a fixed payment of around $240 / month).
Having calculated the cost-benefit of making the move in advance, it benefited me long-term to consolidate that student loan account into the HELOC and snowball the debt reduction by adding that ~$240/mo to my positive cash flow.
What was your biggest concern when deciding to join RYM?
I've made emotional decisions about personal finance that I have since regretted (college, marriage, divorce, timeshare, etc).
Looking ahead, I plan to only make objective calculated decisions about money. I was skeptical of the RYM strategy at first, but after creating an Excel spreadsheet and realizing that the math doesn't lie, it was a no-brainer.
How has using the RYM strategy changed your life?
Between the RYM strategy with purchasing personal property and investment property, and the Be Your Own Banker strategy with tailored whole life insurance policies, I don't think I will ever need to borrow money from anyone other than myself ever again.
That sense of freedom, independence and self-reliance is unexplainable.
What advice would you give to a homeowner considering trying the RYM strategy?
Honestly, reviews or opinions are meaningless.
If I had been presented with scores of testimonials, I'd still have been skeptical.
Crunch the numbers. Do the math. See for yourself. The system works.
But with great power comes great responsibility. As you pay down your HELOC balance, it takes restraint to keep from tapping into that readily available credit line.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 15-year mortgage with a principal balance of $145,000.
When we joined RYM, we had $100,000 in remaining principal balance after paying our monthly payment for four and a half years.
What is the current status of your HELOC and how many months did it take you to achieve it?
After only two months, we have reduced our principal balance by $10,000.
What was your biggest concern when deciding to join RYM?
We’ve all heard of various strategies to pay down debt, but we had not heard of this method before, so we were skeptical.
But like the RYM team says, “It’s math, not magic.” After looking over the numbers, we knew the strategy would work for us.
How has using the RYM strategy changed your life?
Using the RYM strategy has reduced our stress levels.
We’ve consolidated all of our debt under the HELOC, and now we have a goal and the focus to see that it’s all paid off in five years or less.
What advice would you give to a homeowner considering trying the RYM strategy?
My advice is to go to the website, read the information and absolutely use the calculator.
After that, I’ll answer any questions I can, but I strongly suggest you make the free call to allay any other concerns you may have. But the proof is in the math.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had 28.5 years left on my traditional mortgage and a balance of $272,000 when I started in November of 2017.
What is the current status of your HELOC and how many months did it take you to achieve it?
By July of this year, I was able to reduce my principal balance to approximately $80,000 ($192,000 in 8 months)
I sold my house and purchased a new home in July using the RYM strategy.I used TIAA to purchase this home with a first-position HELOC.
What was your biggest concern when deciding to join RYM?
"Too good to be true" was definitely in my mind until I ran the numbers for myself over and over and over again! It’s just math.
How has using the RYM strategy changed your life?
Definitely a life-changing experience. I have very clear financial goals and discovering and implementing this strategy has definitely been the catalyst for me.
We were able to purchase a home that I would’ve never considered prior to finding RYM. Life in Southern California can be extremely hectic, but finding the home we did was incredible. What’s better is I anticipate this home being paid off in 5-6 short years.
I wish I found this sooner. I plan on being semi-retired by the time I reach 42 years old, which is only 5 years away. Wouldn’t have been able to do it without RYM.
I will also be using this strategy to begin purchasing investment properties very soon, so I can generate enough passive income to replace my current salary.
What advice would you give to a homeowner considering trying the RYM strategy?
Run the numbers and be honest with yourself about whether or not you can commit to implementing the strategy as it was intended.
This is not a get-rich-quick or money-making scheme. This could be a life-changing opportunity for you and your family, but you have to make it work and remain disciplined.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 20-year mortgage that had been refinanced four times since 2000. Our original financed mortgage amount in 2000 was $95,000.
The frequent refinances had my last balance prior to my HELOC refinance (Thank you, RYM for the education) at $88,000. All those years of paying and working, and we had only reduced our principal by a measly $7,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
After only 2.5 months and the HELOC-as-Checking auto-deposit method, I've reduced my balance to $76,000. More progress than I've made in almost 20 years.
What was your biggest concern when deciding to join RYM?
The initial investment in RYM made me nervous, it was a lot of money. I had to put it on a credit card, and I was virtually done with credit cards for the first time in my life.
But I read online testimonials and spoke with several banking specialists about the basically ZERO cost of refinancing into a HELOC (first-lien position). It cost me NOTHING for the appraisal and, at the end of the process, I was only out $75.00.
To give you an idea, the last time I refinanced my mortgage, it cost me $2,100. You could say that difference put me over the top.
How has using the RYM strategy changed your life?
Right now, I am set to pay off my mortgage and own my home free-and-clear in less than 4 years.
I have the security of knowing, if there was a catastrophic change in my income, that I have the flexibility of being able to stay ahead of my bills and just hop on the "treadmill" until I'm back on my feet.
That kind of security is just something you can't go buy in the store. Being able to rest at night for the first time knowing that I'm not living paycheck to paycheck is the most liberating feeling I've ever experienced.
What advice would you give to a homeowner considering trying the RYM strategy?
Do not hesitate to do your research. The initial call with RYM cost me nothing. They are educators first and foremost and not a bank ally funneling your time and energy into someone else’s pockets.
Having a financial advisor is a great choice, but having the RYM team and the Facebook community behind you to advise you on your future real-estate moves? THAT is worth the price of admission, ten-fold.
Rent gains you nothing. Mortgages are basically just as bad.
RYM's strategy is the only ticket to true home ownership and beyond I have ever found. If you want to be 65 by the time you pay off your home, by all means, do what we were all trained to do as kids and young adults… Get a mortgage and plug away for 30 years.
I only wish I would have known about HELOCs back in 2000.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $298,000.
When we joined RYM, we had $258,000 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 it take you to achieve it?
After 8 months (as of October 8, 2018), we have reduced our principal balance to $162,000.
We are currently on track to have our home paid off in the next 2-3 years and, from there, pay off our investment property in 2-3 years as well. From there, we will continue to invest more in real estate.
What was your biggest concern when deciding to join RYM?
Changing the traditional cash-flow strategy of having a checking and savings account and replacing it with the HELOC.
I've since then gone further and reduced 401(k) contributions because of the lack of liquidity for future investments.
How has using the RYM strategy changed your life?
This has fundamentally changed how I view my cash-flow and net worth.
Net worth used to be the measuring stick, but now understanding how to be financially "free" with cash-flow, I understand how to use leverage strategically to help my family create wealth.
What advice would you give to a homeowner considering trying the RYM strategy?
DO IT. I have advised several people to make the call, since it is a no-obligation call. qualifying clients is one of the best things RYM does. They want to make sure this is the right strategy for you to be using now. If it is not, they will not sign you up.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage on a one-room urban loft that we purchased in 2007 (right before economic crash) for $265,000.
When we joined RYM in 2017, our loft was worth $219,000, and we still owed $200,000. We had just had a baby, making the space almost impossible to live in.
Sales of similar lofts were painfully slow, and renting would lose us money. We desperately needed to get out and somehow buy a real house.
What is the current status of your HELOC and how many months did it take you to achieve it?
We purchased a home in September 2017 for $323,500 with a LIBOR HELOC.
After 13 months, we have reduced our principal balance to $194,000. (We were able to recast our loan on the loft, and rent it for a loss of $200 per month).
What was your biggest concern when deciding to join RYM?
We thought, “Is this for real??”
We joined because a co-worker / friend told us his first-hand experience using RYM and the difference it made. We believed him and made the plunge.
Best decision EVER.
How has using the RYM strategy changed your life?
Best financial gift and decision ever. RYM made it so we could afford a new home, all while keeping our old home, and still pay off the new one in 10 years or less. It was a life-changer for us, especially with a new baby.
What advice would you give to a homeowner considering trying the RYM strategy?
This works miracles if you are willing to trust in and completely follow the RYM strategy. Remember, with a traditional mortgage, you are paying for your home twice. With RYM, you are only paying for your home, plus a small workshop.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 15-year mortgage at 3.25% for about $295,000. I have paid it down to about $250,000 in 4 to 5 years. I'm 53 years old and want a home with no payments.
What is the current status of your HELOC and how many months did it take you to achieve it?
I joined RYM in November 2017 and am paying my home down well using the strategies suggested. I am down to $233,000 and should be done in 4 years or less. I have no other debt.
What was your biggest concern when deciding to join RYM?
Joining was easy. I hated the idea of paying so much interest over the course of the loan. I went with a 15-year loan to avoid more interest. This was the strategy I was looking for.
How has using the RYM strategy changed your life?
I see the light at the end of the tunnel now.
I am using the credit card strategy and using the points to travel instead of paying cash.
I'm also combining my income and other savings that were spread out in many places to pay down my mortgage faster than I could imagine.
What advice would you give to a homeowner considering trying the RYM strategy?
Do the math. Don't follow the masses and look out for your own finances. If you don't, nobody will.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 15-year mortgage with a starting balance of $220,000 with an approximate $180,000 balance with 10 years remaining.
We added our car payment and additional land loan into our HELOC, which brought our HELOC loan to about $220,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
We're 2.5 years into the process and our balance has been reduced $165,000.
What was your biggest concern when deciding to join RYM?
The whole process made total sense to me, had no worries at all.
How has using the RYM strategy changed your life?
It means our home will be paid off much quicker than we anticipated which gives us peace of mind moving into our retirement years.
What advice would you give to a homeowner considering trying the RYM strategy?
As long as they have positive cash flow each month, and can qualify for this type of loan, they'd be crazy not to switch to a HELOC.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 30-year mortgage with a starting balance of $135,000.
When I joined RYM, I had $132,000 remaining balance after making regular payments and additional principal payments every month for 2 years.
What is the current status of your HELOC and how many months did it take you to achieve it?
After only 8 months, I have been able to lower my principal balance to $113,000.
What was your biggest concern when deciding to join RYM?
I was concerned that it would be too difficult for a single person to do it on their own, but the consultant made me feel comfortable that I was a great candidate to use the RYM strategy.
How has using the RYM strategy changed your life?
The RYM strategy has given me confidence that I can be debt-free.
After getting a divorce and a few other setbacks, I didn’t think I would ever be debt-free. The RYM strategy will allow me to be debt-free in 48 months.
What advice would you give to a homeowner considering trying the RYM strategy?
I honestly recommend everyone to at least call and arrange a consultation. The consultant can help you determine if this strategy can work for you.
It honestly might be one of the most important calls you ever make.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 30-year fixed mortgage that I was 10 years into, and the principal amount had barely dropped after years of making $1,300+ payments.
What is the current status of your HELOC and how many months did it take you to achieve it?
I just started making payments to my HELOC, and I have dropped the principal balance by nearly $4,000. Now my principal is dropping steadily each month in the RYM program.
What was your biggest concern when deciding to join RYM?
My biggest concern was trusting all my income going into the HELOC account and shifting how I pay for daily expenses. It was overcome by re-reading the book and believing in the program (how it is designed to work and seeing it in action).
How has using the RYM strategy changed your life?
I can see that, in 5-6 years, if I stay on pace, my home will be paid off, rather than all that wasted money on the 30-year fixed mortgage.
And I will be able to build an even more secure future by having the money available for investing.
What advice would you give to a homeowner considering trying the RYM strategy?
Read the book, watch the YouTube videos, and maybe view the Facebook page to see how it has worked for other real people just like you.
Then, if you are able to qualify for the program, you should get excited about getting your home paid off early, at a minimum.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $355,000. After 5 years, it was virtually the same.
I was fed up with the conventional mortgage model and went searching for something else and found RYM.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 9 months, we have reduced our principal by $48,000.
What was your biggest concern when deciding to join RYM?
I was worried about the cost, but we have already earned it back 10-fold in 9 months.
How has using the RYM strategy changed your life?
It has made me more focused on my finances. I budget and watch what I spend more than at any other time in my life. I feel like I am in control instead of my debt controlling me.
What advice would you give to a homeowner considering trying the RYM strategy?
Sit down and create a budget to make sure that you are in a position to maximize the strategy.
What was your mortgage situation prior to starting with Replace Your Mortgage?
I had a 30-year mortgage with starting balance of $580,000 (with about $550,000 remaining) and second-lien HELOC of $75,000.
I sold this house in May 2018 and paid off the mortgages. I then purchased a new house with a HELOC in May 2018.
What is the current status of your HELOC and how many months did it take you to achieve it?
The new house’s HELOC was 70% loan-to-value, with a starting balance of $577,000.
I reduced my balance by $37,000 in 4 months.
What was your biggest concern when deciding to join RYM?
My biggest challenge was focusing more on tracking spending vs. just looking at the checking account balance / activity.
And understanding that the math with the HELOC strategy really works.
How has using the RYM strategy changed your life?
It is giving me a better possibility to leverage home equity to do investments (real estate) going forward.
What advice would you give to a homeowner considering trying the RYM strategy?
Don't confuse this with a second-lien HELOC.
This works if you have positive cash flow. Get familiar with the math and process.
Then, just follow the instructions, ask questions, contact banks and get your HELOC going.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30 year mortgage on our home with a balance of $180,000, plus we purchased additional family land of $23,000.
So the principal balance going in was around $201,000 with over 25 years left.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 12 months, we have reduced our principal balance to $167,000.
What was your biggest concern when deciding to join RYM?
Not having cash on hand was our biggest concern. We were using credit cards 100%.
Educating ourselves with all your material helped.
How has using the RYM strategy changed your life?
It’s an opposite strategy. That’s the only way I can explain it.
We used to be so concerned about running out of money. The concern has been illuminated in our lives. We had a handle on things before, but now we just don’t worry about finances and running out.
Don’t get me wrong. We still need to prove this thing out. We’re focused on dumping everything into the HELOC and pushing down our balance.
I’m looking forward to the day I can use the balance for purchasing acid producing properties and other investments.
What advice would you give to a homeowner considering trying the RYM strategy?
Go through all the videos, use the calculators and be open to the strategy.
If you want to stop worrying about money on hand, this is the way to go.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30 year mortgage with 29 years left on it. We owed $265,000, but had $260,000 cash.
What is the current status of your HELOC and how many months did it take you to achieve it?
We refinanced to a HELOC, so we could get rid of mortgage interest but still have access to our money when we needed it.
We paid off our home the first month.
What was your biggest concern when deciding to join RYM?
My biggest fear was that the cost of membership would add little or no value to the information already offered freely online.
Ultimately, I realized that doing nothing would ultimately cost more in interest payments than the membership would cost.
The assurance of not getting the wrong HELOC helped give me the confidence to move forward.
How has using the RYM strategy changed your life?
It has saved us $750 / month for over a year now. It has made me change how I think about purchasing rental properties.
What advice would you give to a homeowner considering trying the RYM strategy?
The system is sound, but you have to be budget-aware and know what you are spending.
What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 20-year mortgage with a starting balance of $360,900.
When we joined RYM, we had a $345,000 remaining principal balance after paying our monthly payment and a little extra money each month for almost 2 years.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 12 months we have reduced our principal by $64,000.
What was your biggest concern when deciding to join RYM?
We were worried about how the adjustable-interest rate in a HELOC compares to the fixed interest rate in our mortgage.
But after speaking to David Bruce, we felt that we can make big progress on our HELOC despite the higher interest rate. We then decided to move forward with the process.
How has using the RYM strategy changed your life?
The RYM strategy increases our financial flexibility, cutting down the time to reach our financial goals.
It's like having our own bank, allowing access to funds when opportunities arise.
What advice would you give to a homeowner considering trying the RYM strategy?
This method works, but you have to be focused and disciplined through the process.
