Using a HELOC to pay off your mortgage fast ????????

[Matthew Isa]

Has anyone heard of using a Home Equity Line of Credit (HELOC) being used to accelerate paying off a primary mortgage? I've attached a link below to further explain the practice. I'm hoping someone can verify that this actually works. If so I'm interested in hearing experiences, tip and tricks to making this work.

https://youtu.be/hOt-gurkFMc

[John Warren]

@Matthew Isa this strategy has been around for a long time. It can work, but you can get much, much better returns by investing that HELOC into solid rental property. There is no reason to jump through these financial hoops just to save yourself the 4-5% interest you are paying on a 30 year fixed.