How James in Connecticut Paid Off $50,000 of Principal in 10 Months

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

We had a 7/1 ARM with a balance of $500,000 when I joined, and we were in the process of refinancing.

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

After about 10 months, we have reduced our balance to $450,000 and created a LILOC in the process.

We have two kids in college and one more to go, along with running two businesses. We have been very happy with strategy.

What was your biggest concern when deciding to join RYM?

We were worried about RYM’s value proposition (cost vs return). It turned out to be a great investment in strategy.

How has using the RYM strategy changed your life?

It allowed us to reduce our interest costs while creating significant flexibility in our financial plan for the future. We have been able to create other income-generating assets.

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

Just do it.

Your growth requires change. If you truly want to create financial freedom and opportunity, then you need to get disciplined and hold yourself accountable to making the necessary changes.

About The Author

Michael Lush

Michael Lush is a mortgage industry expert, having spent fourteen years as a mortgage banker helping thousands of families with their mortgage needs. He is also a father and husband. Michael is co-author of the book Replace Your Mortgage: How To Pay Off Your Home In 5-7 Years On Just Your Current Income. Besides this blog, you can find him on Youtube where he shares more information about HELOC's.