Pay off Mortgage with a Line of credit in less than 10 years

[Nancy Lucca]

Has anyone heard of this. There’s a website that shows u how to do it. Don’t know if I want to give out the secrets. But it’s from an ex banker who said the bank doesn’t make any money on a line of credit. So people can pay off their mortgage super quick with this method.

[Son D.]

@Nancy Lucca this method is neither new nor a secret. There are plenty of YouTube videos about it. The idea is using the line of credit which utilizes simple interest to pay off mortgage which utilizes compound interest that make you pay off most of the interest first.

The only thing is since rates have been at historic lows these past 10 years, a real estate investor would rather use that line of credit to invest and make more money than what would be saved by paying off the mortgage.