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re: Using a HELOC to pay off mortgage sooner
Posted on 3/10/22 at 1:47 pm to saints5021
Posted on 3/10/22 at 1:47 pm to saints5021
The only benefit as i see it is if you have an extremely large amount of cash in checking/savings, then you can apply that to the HELOC (which allows you to effectively pay down the mortgage faster) while still having the heloc to manage monthly expenses like a checking account.
So it is a way to use dormant funds better. There are hundreds of ways to use dormant funds better. The HELOC isnt necessarily better.
So it is a way to use dormant funds better. There are hundreds of ways to use dormant funds better. The HELOC isnt necessarily better.
1
Posted on 3/10/22 at 3:27 pm to meansonny
I feel like I’ve watched every velocity banking video on YouTube and still don’t understand the concept…
I just pay extra monthly on my mortgage. Started with a 30 year in 2015, refi to 15 in October 21, hoping to pay it off by 2026
I just pay extra monthly on my mortgage. Started with a 30 year in 2015, refi to 15 in October 21, hoping to pay it off by 2026
This post was edited on 3/10/22 at 3:29 pm
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