Use home equity line to pay mortgage off faster?

Edina, MN. Basement Finishing Contractor.

Is it true that you can pay off all your debt faster using a home equity loan on your house? This article covers some key points on how the programs work, offers a free mortgage calculator and gives an example of the monthly savings on a 200,000.00 mortgage.

“The premise of the equity line program is that you deposit your paycheck into your home equity line and then write checks against the credit line to pay your bills. As long as your income is greater than your expenses, you’re paying down the credit line and reducing your mortgage interest expense.”

See full article: Use home equity line to pay bills?

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Edina, MN. Basement Finishing Contractor.