Michael Lush

How 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, and I'm thrilled to report that as of this month (October 2018) our HELOC balance is paid in full!

To illustrate our progress, I started keeping detailed notes in September of 2017. Here is our actual balance history:

Some may look at that image and argue that my wife and I earn a good income, but that is why we are a great example of this technique working as described.

We paid off our home in 24 months using RYM vs. 26 more years in a traditional mortgage. Wow.

What was your biggest concern when deciding to join RYM?

In addition to being worried that the whole concept was too good to be true, my second biggest concern was that it would be more work than I could tolerate (e.g., the nightly sweep from checking would not work).

I was also concerned about rapidly rising interest rates but, after I fully understood the difference between "rate of interest" and "volume of interest," I pressed on.

How has using the RYM strategy changed your life?

Oh my gosh, I cannot tell you how powerful and stress-relieving RYM has been for improving our lives.

Besides now being a position to quickly leverage hundreds of thousands of HELOC dollars on other good investments, which accelerates my family's chance at real wealth...

It has also led to our family opening two Infinite Banking policies. I cannot thank you enough, truly.

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

Do it. Do it now. You always have a chance to go back to a traditional mortgage if you desire, but you won't.

Remember, it's not magic. It's math.

Michael Lush

Disclaimer: Replace Your Mortgage does not offer mortgages, Helocs, or loans of any kind. Replace Your Mortgage is not a bank, and does not provide credit offers. Replace Your Mortgage is strictly for educational and informational purposes only.
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