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

We had a 30-year mortgage with a balance of $158,000. When we joined RYM, I refinanced the mortgage into a HELOC for $202,000, and we almost maxed out the HELOC.(bumping up the balance to $200,000).

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

After 12 months, we have the HELOC down to $127,000.

We also have a four-unit property under contract as of a week ago — and hopefully to close in 30 days after an attorney review.

What was your biggest concern when deciding to join RYM?

Rising interest rates. Quite frankly, we are still concerned. I think you need both a fixed rate and a variable rate.

But, combined with the Infinite Banking concept to have an additional place to park your money, I think everyone will do great.

How has using the RYM strategy changed your life?

Make me soooo much more aware of the time value of my money down to the day. Now, I calculate how much interest I have to pay if I don’t have that money and park it in my HELOC.

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

Give it a try. Get a HELOC. Be aware of the time value of your money. I consider myself very financial savvy, but RYM takes it to the next level.