Stop right there. If you're a mortgage holder, I'm going to show you one simple trick that will pay your home off in five to seven years on your current level of income. Number one, you got to start with a budget. You got to earn more money than you make because there's only one way to pay down principal and that's the pay down principal. The only way to do that is to make more money than you spend. So budget is first and foremost. Number two, you're going to replace your mortgage. That's right, I said it. You're not even going to have a mortgage anymore. You're going to have a home equity line of credit in first lien position. So very different from what you thought of prior to this, thinking that a home equity line being in second lien position, you're going to have it in first lien position. So you're just going to refinance your mortgage to a first lien position home equity line of credit. And number three, you're going to use your HELOC account, not your checking account. So now you're going to deposit money into your HELOC account, which will drive down the average daily principal balance, which reduces the interest and accelerates the payoff process. It's just a mathematical equation that we can win at. Number four, discipline. That's a totally different type of discipline than what you're thinking of. This is actually a discipline to resist temptation. In fact, it's easier to do this than what you're currently doing. The discipline I'm referring to is resisting the temptation to make interest only payments. Or if you're following this method to resist the temptation to cash out your equity, to buy things that are liabilities like cars instead of assets. Now, I've got way more information on this. I've got a book and I know what you're thinking, I'm going to sell it to you. No, I'm actually going to give it to you for free. So I've written a book, Replace Your Bank. If you write a book, it's best to know the title of your own book. I'm going to give you the book, Replace Your Mortgage, and I'm going to send it to you for free. So click on the link below and we'll get that book out to you ASAP. Take care, gang. God bless.
