Great question and one that I have to chuckle at because when my partner David and I started Replace Your Mortgage, our close friends would ask us ”Are you charging people for something that they can do themselves?”.
I would just smile and say “Of course. Have you tried getting a first lien heloc yourself?”. The answer was always a no and so I said call me back when you do it.
When they called me back they completely understood why we offered to hand hold people throughout the entire process. It can be a nightmare talking to lenders and asking the right questions to get the right heloc.
Nowadays because we have thousands of clients, we don't get asked that anymore. 🙂
Many homeowners value the wealth of knowledge that they get from us that dramatically transforms the way they finance debts/real estate forever.
They will thoroughly understand the systemic methods used by banks to profit from your lack of knowledge and reversing the massive transfer of wealth from the bank back into your net worth.
We will show you how to "effectively and efficiently" use a simple Home Equity Line of Credit to capture any leakage of income that would otherwise be wasted on a traditional mortgage. Thus, utilizing your income 24/7 to accelerate the payoff term in as little as 5-7 years on your existing level of income.
HELOC Lenders That Do First Lien HELOC's
One of the biggest hurtles of getting a 1st position heloc is navigating the banks. HELOC's are bank owned loans so each bank has different guidelines.
We cherry picked over 200 different banks that offer first lien helocs by calling them and asking about their guiidelines. Our clients get access to that list and also our special HELOC questionnaire to use when calling the banks so that you ask the right questions.
Powerful stuff! It's no wonder our clients have a smooth process throughout and save on average of $15,000 in their first 6 months.
We will illustrate how you can use this simple financial tool to create wealth and quickly replace your existing income, giving your family financial freedom that few capitalize. There are many variations of Lines of Credit that can be used to Replace Your Mortgage.
You become a client for life so that you reach your ultimate goals of being debt free and financially independent. Ongoing consultation is not only accepted, it is encouraged without additional fees to pay.
Bottom-line, you are making a one time investment that is a fraction of what you will save in a few short months of performing our strategy and the results are guaranteed because it's mathematically impossible not to work.
I hope this answers some of your questions about using a 1st position heloc to pay off your mortgage early. It's truly lifechanging if you know what you are doing.