What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage at 3.25% starting in 2013. Our beginning balance was $190,000.
When we began with RYM, our balance had gone down to $168,000.
What is the current status of your HELOC and how many months did it take you to achieve it?
It took us three weeks to get the HELOC.
In two months on the strategy, we have been able to reduce our balance to $138,000 by using what we used to keep in checking / savings and putting it to work for us instead of losing money.
What was your biggest concern when deciding to join RYM?
I really thought it must be too good to be true. I tried to find errors in the logic, and I was not able to.
The math made too much sense in my mind for it to not work. It really is just math.
But I wanted to see if I was going to be locked into the process with no way out (without losing a ton of money). When I found out you could always refinance into an old-fashioned loan, that gave me some peace.
How has using the RYM strategy changed your life?
We are now thinking about how we can use our money in a much more efficient manner and leverage our money to provide the biggest impact.
We’re looking forward to the future. We really needed this, since my career recently ended due to my health conditions. Yet the future is brighter now than it was even before my health situation changed.
What advice would you give to a homeowner considering trying the RYM strategy?
Just try it and go for it. It will quickly pay for itself, and there is always a way to get out if you aren’t thrilled with the results. If you are spending less than you earn, this can work for you.