Ever wonder how you may be able to pay off your #mortgage within 5-7 years (depending on your situation) without adding a single penny to your payment and not #refinancing? Sam Kwak is 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 "Debt Free Acceleration" Strategy. This strategy has many other names such as "Velocity Banking", "Mortgage Acceleration", "Accelerated Debt Reduction", "HELOC Strategy", "HELOC Method", "HELOC To Pay Off Mortgage" and more!

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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. This strategy allows you to use a HELOC which is a revolving credit line to pay off the principal balance (either in chunks or whole) and then using all of your income to pay down the HELOC to lower the average daily balance. But... you can still take the money out of the HELOC to take care of your everyday expenses. The key to pay off your mortgage in 5 years is understanding the math behind how the strategy works. A lot of people think that in order to pay off their mortgage in 5-7 years, they have to get lower rates or refinance. This is simply untrue, you can still pay off your mortgage faster with a higher interest rate HELOC... It's ALL about lowering the average daily balance on the HELOC.

The emphasis on this strategy is mainly on cash flow and principal balance reduction. The adage strategy of taking your hard earned money you earn and paying extra toward the principle is an old school strategy. While it works, the Debt Free Accelerator Strategy is a much more efficient way of paying off an amortized debt. 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!!!

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DISCLAIMER: Sam Kwak is not a licensed mortgage broker, not real estate agent, not a Certified Financial Planner, not a licensed attorney, and not a Certified Public Accountant. Viewers will consult with their professionals prior to engaging in any financial strategies. Not everyone will experience 100% success rate with using this strategy. This strategy does require equity, a good standing with your current mortgage and the patience to use the strategy. The result of paying off your mortgage within 5-7 years is atypical but it represents a likely possible outcome for individuals who use this strategy. We (Novo Elite and DBA The Kwak Brothers) does not warrant a promise or a guarantee any specific outcomes and/or results from the use of this strategy.