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HomeForumsInnovative StrategiesUsing HELOC to pay off mortgage
Joseph Liechty's profile image
Joseph Liechty's profile image
Joseph Liechty
  • Investor
  • from Louisville, Kentucky
  • Member since Jul 12, 2017
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Joseph Liechty's profile image
Joseph Liechty's profile image
Joseph Liechty
  • Investor
  • from Louisville, Kentucky
  • Member since Jul 12, 2017
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Joseph Liechty
  • Investor
  • Louisville, KY
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Innovative Strategies

Using HELOC to pay off mortgage

Joseph Liechty
  • Investor
  • Louisville, KY
Posted Sep 25 2017, 13:11

Hello,

Does anyone have experience using a HELOC to pay down a mortgage? I recently heard about this strategy and I'm intrigued. I don't understand how this is more beneficial than just paying more towards the principle every month since I would have to pay interest on the HELOC money and I don't have to do that when I pay extra principle out of my pocket. Is the benefit the amount you are able to contribute up front as it reduces the amount of amortized interest over time? I'm not a real estate agent nor a CPA so English please when responding.

Thanks for any help!

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