heloc to pay off debt | The Kwak Brothers

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Pay Off Your Loan Or Invest? Know What’s Better For You

Time and time again, I see people choosing to focus either a mortgage or an investment but not both at the same time. But which option is better to start with? In this article, I will show you how you can invest AND pay off your mortgage without the diminishing effects of either process. I want to show you that it’s possible to pay off your mortgage and invest simultaneously. More often than not, such a decision often depends on your financial situation. While many people believe that paying off money is best since it saves on your interest payments, others may want to invest their extra

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BREAKING! The Eviction Problem Just Got WORSE 😧

The eviction moratorium has completely expired and the US Supreme Court ruled against the CDC wanting to extend the moratorium. In addition to this, recently the Federal Unemployment Benefit also expired this week and the Biden Administration has no intention of bringing the unemployment benefit back as the economy is starting to open up.  https://www.youtube.com/watch?v=uaTUQruQjKQ In this video, I’m going to unpack what this all means and how real estate investors could potentially benefit from the eviction

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February 16, 2021

HELOC: Sam Kwak Reacts to Money Magazine Article

Money Magazine Article: https://money.com/youtube-mortgage-payoff-velocity-banking/ HELOC Strategy Explained: https://youtu.be/eGVn9iq1e6c So a few months ago, I was interviewed by Money Magazine writer, Samantha Sharf, about our strategy of using a HELOC to paying down your mortgage. She was certainly intrigued as many of you were and she asked me some really intelligent question. She did inform me that the article was put on hold and recently, she let me know that the article will be published. And it did! I really appreciated Samantha’s professionalism and she certainly had many good points. However, there are parts where I do disagree and I would like to provide my response and reaction! Feel free to read the article yourself and other articles that Samantha wrote! Now originally, this video was close to 45 minutes! (YIKES) So I did edited it down to 23 minutes. So unfortunately, I wasn’t able to include ALL of my reactions. But much of the points that were made by the article isn’t really new to me and I’ve heard many of these arguments before. First and foremost, the article never mentions the existence of a 1st lien position HELOC. For the entire article, it presents the strategy through the lense of a 2nd lien HELOC strategy. Therefore, the article fails to mention the full story of the strategy. The article also never mentions the fact that a 1st lien HELOC can be used as a “safety net” for individuals that undergo an emergency or even worse, loss of income for a period of time. So for the sake of making a valid reaction to this article, we’re going to stick to the 2nd lien position HELOC strategy and we’ll make a case for it. Now, on the positive note, the article does a good job articulating the general idea of using a 2nd lien HELOC and does a good job explaining the effects of the lowered average daily balane which ultimately has the effect of saving money on the interest side… But when the article begins make a comparison of using a $10,000 bonus to make a principal payment against the mortgage, it fails to understand the benefit of using a HELOC that ultimately lowers the average daily balance WITHOUT any excess cash/bonus introduced to the numbers.
September 1, 2020

How To Pay Off Your Mortgage FAST | SECRET Bank Loophole

How to pay off your mortgage fast without making an extra payment or cutting down your expenses! This is the LATEST version of how I show you, paying off your mortgage, we always are improving our method of paying off mortgages early and in today’s video, I will show you our most up-to-date strategy! Ever wonder how you may be able to pay off your mortgage less than the designated terms of the mortgage (typically 30 years)? Well, depending on your situation, you may be able to pay it off if your serious within 5-8 years without sending double payments to the bank, changing your current level of income, or refinancing? If you want to learn how to pay off your mortgage fast or earlier, I am going to show you a strategy in how you can use a different method/instrument to pay off your mortgage quicker! This strategy is called the “Accelerated Banking” Strategy. This strategy has many other names such as “Velocity Banking”, “Mortgage Acceleration”, “Accelerated Debt Reduction”, “HELOC Strategy”, and more! Download Our FREE HELOC Calculator: Visit https://acceleratedbanking.com When it comes to paying off your mortgage faster, We first need to understand how mortgages work. In this strategy, we are using a Home Equity Line of Credit (HELOC) as a leverage to pay off the mortgage quicker and still maintaining our income and expenses as how they are. You can also use other instruments such as Business Line of Credit, Personal Line of Credit, or Credit Cards for the purpose of this strategy. The beautiful thing about this strategy is that it allows us to take an inefficient debt and convert it over to a much efficient debt. So yes, you CAN use a HELOC to pay off your mortgage faster if you use it the smart way. The emphasis on this strategy is mainly on cash flow and principal balance reduction. The adage strategy of taking the hard-earned money you earn and paying extra toward the principle is an old school strategy. While it works, the Accelerated Banking Strategy is a much more efficient way of paying off an amortized debt because it takes advantage of the maximum income utilization. This strategy will also work on Student loans, car loans, personal loans, and so forth! Don’t let the banks trick you with their amortized products!!! Paying Off Your Mortgage Faster could mean that you can retire faster, invest more, or just create the time freedom to spend your precious time with your family. While there are arguments as to why you shouldn’t pay off your mortgage faster, I ultimately believe it’s up to the persons’ overall financial goals and what they want to achieve. I encourage all homeowners to use this strategy to pay off the mortgage faster so you can enjoy more freedom and build personal wealth.