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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?

My family and I had just moved to Florida from Tennessee, where I knew Michael from a previous traditional mortgage transaction. He reached out to me about RYM, and I was all in from the get-go.

Before enacting the strategy on my Tennessee home and going through the refinancing process, we purchased a new home in Florida with a first-lien HELOC. We have been working the strategy ever since.

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

I have two HELOCs, one on my primary home and one on an investment rental property in Gatlinburg.

We had enough equity within six months of closing on our primary home that we were we able to put a down payment on the investment property.

What was your biggest concern when deciding to join RYM?

Getting buy-in from my wife by being able to answer all her questions. Otherwise, it was easy to see why it was a far better option.

How has using the RYM strategy changed your life?

The RYM strategy brings additional income from an investment property we would have otherwise not been able to acquire. I’m looking forward to repeating the process over and over.

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

Make sure you have a sound understanding of the strategy and how you need to execute the flow of money to be successful. It may take several times reviewing the same info for it to click.

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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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