Michael Lush

How Robert and Sandy in Minnesota Paid Down $15,352 in Principal Their First Month

What was your mortgage situation prior to starting with Replace Your Mortgage?

Sandy and I had a 30-year mortgage with a starting balance of $51,000.

We had been making payments for 7 years and 2 months, which included double payments for 6 months. Our remaining balance was $41,700, with annual interest of around $2,183, when we signed on with Replace Your Mortgage.

What is the current status of your HELOC and how many months did it take you to achieve it?

Since we funded our first-lien HELOC in mid-September, we have reduced our outstanding balance from $41,378 to $26,026 by mid-October.

What was your biggest concern when deciding to join RYM?

As you might understand from the size of our mortgage, we are not big spenders. So, the cost of the program caused some hesitation. However, once we realized how much we were paying in interest yearly and how much sooner we could reach our payoff, it was a simple choice.

How has using the RYM strategy changed your life?

We are making better use of our liquid assets to reduce our principal and interest, while still having access to investment capital from the HELOC.

What advice would you give to a homeowner considering trying the RYM strategy?

Find your mortgage paperwork, and then find an online amortization calculator. Enter your amount and terms. Then, figure your yearly interest for the duration of your loan.

Second, run the HELOC calculator at, and see if you can afford not to invest in that program.

Michael Lush

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