Got a home equity line of credit and want a new mortgage on another. but in time bots will get smarter and replace most front-line mortgage agents. That’ll cost jobs for some in the industry this.

standard mortgages. I say recovering because about three years ago I stumbled across HELOCs and after going through the process myself, I decided to start teaching others how to pay their homes off in 5-7 years. david Dutton and I started Replace Your Mortgage to help people all across America learn how to utilize a HELOC to pay off their home.

But unlike a conventional mortgage, it is designed as a way for homeowners age 62 and over, with substantial home equity, to tap that equity as. system is contracting – Social Security replacement.

Here are some pros and cons of using a HELOC to pay off your mortgage as opposed to a traditional refinance. What is a HELOC? Like a mortgage, a HELOC is secured by the equity in your home. Unlike a mortgage, a HELOC offers flexibility because you can access your line of credit and pay back what you use just like a credit card.

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HELOC stands for home equity line of credit, or simply "home equity line." It is a loan set up as a line of credit for some maximum draw, rather than for a fixed dollar amount. For example, using a standard mortgage you might borrow $150,000, which would be paid out in its entirety at closing.

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Home equity lines of credit (HELOC) allow you to borrow money using the equity or value of your home as collateral. HELOCs may be a better alternative than a credit card, or personal loan, as rates tend to be lower (as the loan is tied to your home), and interest paid may be tax deductible.

Save by replacing mortgage with HELOC.. there is no leisurely repayment of a home equity line of credit after the sale of a home.. mortgage if you have an existing first mortgage or HELOC in.

Tax, Legal Issues, Contracts, Self-Directed IRA Tax Reform Law and the "pay off your mortgage w/a HELOC" strategy Feb 7 2019, 13:50; personal finance forum replace Your Mortgage with a heloc Aug 21 2018, 06:49; Innovative Strategies Replace your mortgage with a HELOC May 17 2019, 17:59