26 year mortgage could turn into 4.5 years?

Unlock the secret to rapid mortgage payoff with our latest video! Discover how a seemingly impossible financial feat was achieved through smart strategies and disciplined planning. We'll walk you through the step-by-step process that transformed a 26-year mortgage into just 4.5 years, offering practical tips and insights that you can apply to your own mortgage situation. Please remember that this video is meant to be for illustration purposes only! Yes - the client and the testimonial is real but it does not represent a typical scenario. However, the strategy that we teach can help homeowners gain better control of their finances.

In this engaging and informative discussion, we delve into the key techniques used, from budgeting hacks and extra payments to leveraging the power of refinancing and other financial tools. Whether you're a homeowner looking to shorten your mortgage term or simply curious about effective debt reduction methods, this video provides valuable knowledge to help you achieve financial freedom faster. Don't miss out on this inspiring story and learn how you too can take control of your mortgage and secure a debt-free future! #MortgagePayoff #DebtFreeJourney #FinancialFreedom #HomeOwnership #MortgageHacks #SmartFinances #DebtReduction
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**DISCLAIMER** The suggestions, advice, and/or opinions that are given by Sam Kwak and Daniel Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold The Kwak Brothers and its brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based on experience.

[backslash]

I think I’m beginning to understand. This system is about having control over the amount of interest we pay. If we can control the amount interest we pay, we can direct more money to the principal with each payment.

[samiraqurbani]

So the HELOC helps save interest and lowers your amortization. You’re putting in your income and taking it out again for expenses, which essentially brings your amount owing on the HELOC back to $20, 000. How do you pay the $20, 000 off faster? You’re making your monthly mortgage payments but now have an additional HELOC loan payment alongside it. You must have extra monthly cash flow to be able to pay off the HELOC in exchange for less interest/amortization on your mortgage.

[seetheforestthroughthetrees]

When is a 3% mortgage not a 3% mortgage? When you refinance or move every 5-7 years! Well said. I have used that discussion with car loans as well. When getting a primary mortgage you are essentially getting 3 10 year loans because of how the principal is repaid. I wish more people understood how mortgage amortization really works. The only way you have a 3% mortgage is if you keep that mortgage for 30 years. Otherwise, it is much higher! Cheers!

[backslash]

Quick question. Is there a limit to the amount we should put toward our mortgage principal from the HELOC? 10-20k seems manageable, but 100-150k seems overwhelming. Should we not put more than 20k or does it depend on our income level?

Your guidance would be greatly appreciated!

[reachnuk]

I’d love to see a breakdown of some real numbers and comparisons. For example - couple has 300k mortgage. They’re in year 5 of making payments. They get a $20k heloc. Their income is 10k. Their expenses are 9k. What would their balance be in 1 year paying mortgage with $1k extra into principle per month compared to using your method? In 2 years….etc. I think that would give people a clearer picture of how this works.

[kangjin]

Let's say 3.5% mortgage and 6% HELOC. Positive cash flow goes into prepayment to the mortgage vs Velocity banking. Is Velocity banking still faster to pay off debt? I think one of the key components is favorable HELOC interest rate..

[themillennialwealthcreator]

Thanks for breaking this down. Question about the daily interest though just to make sure I'm understanding this correctly. Is the daily interest not applied to the balance immediately, therefore increasing the balance the interest rate is applied to? Or is it that not the case because the interest rate is annualized?

[jermmt]

Correct me if I am wrong but I believe that the UK has a similar program to Aus and NZ called an Endowment Policy that’s attached to the mortgage

[russellmavis]

Wouldn't moving it to a first lien position HELOC be better that's what I did works great!

[JoseSorianoPhotography]

what do you seel in your webinar? Im interested in this but I don't want to be disappointed to watch the webinar and then spend money instead of saving.

[liberty_or_death]

This video was like reading those articles that are going to tell you something, then tells you how they are going to tell you, then say they are going to tell you soon, then...buy our product.

[MrEZW]

I don't see the advantage here over simply making an extra payment towards principal every month. When compared to that, this seems like more of a disadvantage... Or am I missing something?

[dhodo]

Will this work if I’m paid bi weekly and not monthly?

[ricardomorales]

Bro, nice haircut, where’s the barber 💈 spot @?

[Hayatti]

Is there a way to use similar methods in the UAE

[nicolaskesington]

great video, however you need to show us how it works on a larger amount such as $100k or more, because a $5k salary would not have a large saving on a larger amount and it would take longer than 4.5 years to pay off your mortgage

[ravenblack]

Can you put this in simple words and on paper? I want to do this but feel I'm not smart enough. Please help.

[coldwater]

Interesting. I opened up a HELOC years ago that I have not touched. So to clarify, I could pay a few K every month, pay that heloc balance off at day 28, and I won’t pay interest on that HELOC? I think I have about 6 yrs left on HELOC?

[hppyabuela]

So is sort of like that velocity system with a HELOC.

[Target_practices]

Where can i get a HELOC with bad Credit?