HELOC to pay off mortgage

5 Replies

I just listened to a long podcast about using a HELOC on a primary residence to pay down the principal balance aggressively. Has anyone had any success with this? Can you walk me through the process?

Originally posted by @Wayne Brooks :

OMG, there's a couple of endless threads on that already.  Not going down that rabbit hole again.

Haha!  No kidding!  People will do what they want to do and believe what they want to believe. 

It's been proven over and over to be a scam. It's really no different than paying more towards your principal every month. Like others have noted, there are a ton of great threads on this where others present a lot of math backing this conclusion. I'm not going into it again!

Here's a link to one of the threads: https://www.biggerpockets.com/forums/49/topics/329076-use-heloc-to-paydown-mortgage-fast

Hi Guy, PB nube

I have been reading up a LOT on this topic and WAS thinking about it. (Thank you PB for the help). now i didn't want to star a new thread so here's my question. if i were to pay down my principal mtg a bit faster and sold my property for around the same amount that i got it. say i got my property at $150,000 and put down 5K towards the principal, when i sell it will i get more money in the end?

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