What was your mortgage situation prior to starting with Replace Your Mortgage?
My wife and I had a 30-year mortgage. We were about 2 years into a refi with Amerihome. We had $482,000 in debt at 3.8%.
Our house was increasing in value, yet it looked impossible to get at its value and do something positive. We have four kids and never seemed to get ahead.
Boy has that changed.
What is the current status of your HELOC and how many months did it take you to achieve it?
After six months of work, we finally have a first position HELOC and are just getting started on our journey. We have tapped into nearly $225,000 in cash value and have paid off all revolving debt.
What was your biggest concern when deciding to join RYM?
Our biggest fear was making another mortgage mistake and paying for it. Like everything in life, there was nothing guaranteed.
But honestly, our backs were to the wall and it took a few calls with John Lavender to ground us.
We looked at each other and said, “How can people not know about this?” What helped us more than anything was the education. It’s top notch. I know what to expect, and now I have a plan.
Even my wife's brother is a mortgage processor and had NEVER heard of this approach. It was unbelievable.
Now I feel like I can finally see daylight. We are looking at investment properties, investing in a business that is already building a customer base and our liabilities are slowly becoming assets.
And lastly, we're living in a place that is creating value in our life and our relationship. which is truly amazing.
How has using the RYM strategy changed your life?
Honestly, I think it saved our relationship. When you love someone and you want to do anything for them, like I did for my wife, you want to promise a future.
The traditional mortgage was a brick that was dragging both of us down. We were never getting anywhere.
Now, we can both can see a way to build security. I can see a balance being paid down. I can see liabilities like cars quickly becoming paid-for assets. I look at my home like a part of my wealth, not an albatross of the American Dream that I'll never pay off. I can’t tell you how freeing that really feels.
What advice would you give to a homeowner considering trying the RYM strategy?
If you're skeptical (as we were), do your research, take all of the courses and do your calculations on the website.
The numbers will speak for themselves. And know, more than anything, that RYM lives on reputation with both consumers and lenders. They don't work with everyone, so if they're serious about you, it’s because they like your chances and will put you in a position to be successful. That should mean something to you.
You can do it! Take the leap, and be realistic about timing.