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 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 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 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?
We refinanced our home in 2014 to a 15-year mortgage with a starting balance of $353,554.
When we joined RYM, we had a remaining balance of $276,000, but we were making double payments and, because of that, we developed a large amount of bills. So, in order to pay all of our bills and our mortgage, we needed a HELOC for $341,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 9 months, we are still debt-free and have reduced our principal by $63,000. Our current balance is $278,000.
What was your biggest concern when deciding to join RYM?
I thought it was a scam until I really began to research and listen to all of the Youtube videos. It began to make sense and, after running the numbers, I felt like it was worth a chance.
How has using the RYM strategy changed your life?
RYM completely changed our life. Our debt was driving our life.
We are now looking for ways to use the equity we've built in our home to find passive income.
I went from being worried each month to being excited each month. Absolutely life changing.
What advice would you give to a homeowner considering trying the RYM strategy?
That it really works, and to do their own research. Honestly, that's what it takes for most people.
I tell everybody about what I'm doing, but I always refer them to the videos online. They explain the process, and then they can run their numbers in your calculator. It's not magic, it's math.
What was your mortgage situation prior to starting with Replace Your Mortgage?
Our primary home was five years into a 15 year fixed 2.875% mortgage, and we had just purchased an investment home on a 30-year 4.25% mortgage.
Our combined debt was $650,000, with monthly payments of $3,400 and $2,500, respectively.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 9 months as part of RYM, we were able to close on a first-position HELOC on our primary home, to unlock an additional $400,000 in liquidity to purchase an additional investment property.
What was your biggest concern when deciding to join RYM?
I thought for years that there must be a way to unlock the potential equity in our home but never pursued it.
After learning about the strategy, I asked an Australian Air Force pilot friend if he had used the offset mortgage program Down Under (in Australia).
He described it just like Michael Lush does and even added that it is not for everyone. He described what happened to his sister, who failed to maintain the discipline required to make the strategy work.
How has using the RYM strategy changed your life?
The RYM strategy has given me a fresh way at looking at financing and real estate investing. Rather that just locking money up in investments, RYM gives you the ability to replenish the war chest so that wealth can be created instead of squandered.
What advice would you give to a homeowner considering trying the RYM strategy?
I advise my friends to think carefully about their long-term objectives and to identify the specific challenges that they face in meeting those goals.
Once they realize that housing expenses are roughly 30% of their income, showing them how to minimize that expense is an easy conversation.
