how to pay off your mortgage in 5 years | The Kwak Brothers

/*! elementor – v3.6.5 – 27-04-2022 */
.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}

The Place Where
Mind & money Meet


/*! elementor – v3.6.5 – 27-04-2022 */
.e-container.e-container–row .elementor-spacer-inner{width:var(–spacer-size)}.e-container.e-container–column .elementor-spacer-inner,.elementor-column .elementor-spacer-inner{height:var(–spacer-size)}

Follow Us

/*! elementor – v3.6.5 – 27-04-2022 */
.elementor-widget-social-icons.elementor-grid-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-mobile-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-tablet-0 .elementor-widget-container{line-height:1;font-size:0}.elementor-widget-social-icons:not(.elementor-grid-0):not(.elementor-grid-tablet-0):not(.elementor-grid-mobile-0) .elementor-grid{display:inline-grid}.elementor-widget-social-icons .elementor-grid{grid-column-gap:var(–grid-column-gap,5px);grid-row-gap:var(–grid-row-gap,5px);grid-template-columns:var(–grid-template-columns);-webkit-box-pack:var(–justify-content,center);-ms-flex-pack:var(–justify-content,center);justify-content:var(–justify-content,center);justify-items:var(–justify-content,center)}.elementor-icon.elementor-social-icon{font-size:var(–icon-size,25px);line-height:var(–icon-size,25px);width:calc(var(–icon-size, 25px) + (2 * var(–icon-padding, .5em)));height:calc(var(–icon-size, 25px) + (2 * var(–icon-padding, .5em)))}.elementor-social-icon{–e-social-icon-icon-color:#fff;display:-webkit-inline-box;display:-ms-inline-flexbox;display:inline-flex;background-color:#818a91;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;justify-content:center;text-align:center;cursor:pointer}.elementor-social-icon i{color:var(–e-social-icon-icon-color)}.elementor-social-icon svg{fill:var(–e-social-icon-icon-color)}.elementor-social-icon:last-child{margin:0}.elementor-social-icon:hover{opacity:.9;color:#fff}.elementor-social-icon-android{background-color:#a4c639}.elementor-social-icon-apple{background-color:#999}.elementor-social-icon-behance{background-color:#1769ff}.elementor-social-icon-bitbucket{background-color:#205081}.elementor-social-icon-codepen{background-color:#000}.elementor-social-icon-delicious{background-color:#39f}.elementor-social-icon-deviantart{background-color:#05cc47}.elementor-social-icon-digg{background-color:#005be2}.elementor-social-icon-dribbble{background-color:#ea4c89}.elementor-social-icon-elementor{background-color:#d30c5c}.elementor-social-icon-envelope{background-color:#ea4335}.elementor-social-icon-facebook,.elementor-social-icon-facebook-f{background-color:#3b5998}.elementor-social-icon-flickr{background-color:#0063dc}.elementor-social-icon-foursquare{background-color:#2d5be3}.elementor-social-icon-free-code-camp,.elementor-social-icon-freecodecamp{background-color:#006400}.elementor-social-icon-github{background-color:#333}.elementor-social-icon-gitlab{background-color:#e24329}.elementor-social-icon-globe{background-color:#818a91}.elementor-social-icon-google-plus,.elementor-social-icon-google-plus-g{background-color:#dd4b39}.elementor-social-icon-houzz{background-color:#7ac142}.elementor-social-icon-instagram{background-color:#262626}.elementor-social-icon-jsfiddle{background-color:#487aa2}.elementor-social-icon-link{background-color:#818a91}.elementor-social-icon-linkedin,.elementor-social-icon-linkedin-in{background-color:#0077b5}.elementor-social-icon-medium{background-color:#00ab6b}.elementor-social-icon-meetup{background-color:#ec1c40}.elementor-social-icon-mixcloud{background-color:#273a4b}.elementor-social-icon-odnoklassniki{background-color:#f4731c}.elementor-social-icon-pinterest{background-color:#bd081c}.elementor-social-icon-product-hunt{background-color:#da552f}.elementor-social-icon-reddit{background-color:#ff4500}.elementor-social-icon-rss{background-color:#f26522}.elementor-social-icon-shopping-cart{background-color:#4caf50}.elementor-social-icon-skype{background-color:#00aff0}.elementor-social-icon-slideshare{background-color:#0077b5}.elementor-social-icon-snapchat{background-color:#fffc00}.elementor-social-icon-soundcloud{background-color:#f80}.elementor-social-icon-spotify{background-color:#2ebd59}.elementor-social-icon-stack-overflow{background-color:#fe7a15}.elementor-social-icon-steam{background-color:#00adee}.elementor-social-icon-stumbleupon{background-color:#eb4924}.elementor-social-icon-telegram{background-color:#2ca5e0}.elementor-social-icon-thumb-tack{background-color:#1aa1d8}.elementor-social-icon-tripadvisor{background-color:#589442}.elementor-social-icon-tumblr{background-color:#35465c}.elementor-social-icon-twitch{background-color:#6441a5}.elementor-social-icon-twitter{background-color:#1da1f2}.elementor-social-icon-viber{background-color:#665cac}.elementor-social-icon-vimeo{background-color:#1ab7ea}.elementor-social-icon-vk{background-color:#45668e}.elementor-social-icon-weibo{background-color:#dd2430}.elementor-social-icon-weixin{background-color:#31a918}.elementor-social-icon-whatsapp{background-color:#25d366}.elementor-social-icon-wordpress{background-color:#21759b}.elementor-social-icon-xing{background-color:#026466}.elementor-social-icon-yelp{background-color:#af0606}.elementor-social-icon-youtube{background-color:#cd201f}.elementor-social-icon-500px{background-color:#0099e5}.elementor-shape-rounded .elementor-icon.elementor-social-icon{border-radius:10%}.elementor-shape-circle .elementor-icon.elementor-social-icon{border-radius:50%}

Facebook


Instagram


Youtube

Subscribe Now

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

Read More

Elementor #11260

Read More

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

Read More
Older Posts

January 4, 2021

How to pay off a 30 year home mortgage in 5-7 years (2021)

How to pay off a 30 year home mortgage in 5 to 7 years. This is the most up to date version of our explanation on how you can pay off a 30-year mortgage in just 5 to 7 years on average. In the video, I will demonstrate how a banking strategy can be used to pay off a 30 year home mortgage in just 5-7 years without sending double payments, changing your current level of income, without refinancing, without loan modification, and without hurting your credit. Download Our FREE Strategy Calculator: https://chopmymortgage.com Key Parts: 0:00 Introduction 0:40 Disclaimer 0:54 Why is Your Mortgage Dangerous? 6:11 Why you should never Refinance!? 8:13 Intro to HELOC 8:32 HELOC vs Mortgage 11:19 Intro to Average Daily Interest 15:00 Intro to 1st Lien HELOC Strategy 22:52 Recession Impact on HELOC? 23:51 Free HELOC Calculator Download Disclaimer: I am not an attorney, accountant, or financial planner. This video is intended to be an educational video. This video should not be taken as financial, legal, and/or tax advice. Sam Kwak is a Certified Credit Counselor #11613. This is not a credit counseling session. I suggest that all viewers consult with professionals prior to implementing any or all parts of our strategy. RECAP OF THE VIDEO: I start this video with an explanation as to why a 30-year mortgage is like a trap for 21st-century homeowners. The reason being is that Americans (and Canadians) experience frequent life changes that cause them to move or they are eluded to refinancing because the refinance rates might be low. Unfortunately, such an event happens before 7-10 years into the mortgage. In the first 5-7 years, the vast majority of your mortgage payment goes straight to interest payment. A very small portion of your monthly payment actually goes to pay down the principal balance of the mortgage. Fortunately, there is a way to escape this. We’re going to introduce a new tool to help us with this called a Home Equity Line of Credit (HELOC) A HELOC is different than a traditional mortgage in several ways. The two main things to remember are (1) a HELOC is a revolving line of credit – which means you have the ability to pay back and re-use any available limit of the HELOC; and (2) a HELOC uses average daily interest calculation (simple interest) instead of an amortization interest calculation which is used by your 30-year mortgage. There’s a common myth out there saying that HELOC interest rates are always variable and higher. This isn’t true… There are HELOCs out there with fixed interests rate and some even have lower interest rates. Now, in 2021 – the best version of this strategy (in my opinion) is to use a 1st lien HELOC to completely replace your mortgage. By doing this, we now only have one debt against your home. No more 30 year amortized mortgage! Just a 1st lien HELOC. With the 1st lien HELOC, you’re now able to deposit all of your income (and event savings) into the HELOC balance to reduce the average daily balance – which ultimately means a lower interest amount you’ll pay on a daily basis. Doing this will keep the interest bill low while still being able to draw the funds out for expenses, emergencies, or even a rare investment opportunity. Now, you may have questions such as a.) couldn’t the banks freeze my HELOC? b.) are the banks still lending HELOCs? c.) how do you qualify for a HELOC? d.) What if I don’t have any equity? – I answer most of these questions on our […]
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.