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Updated over 6 years ago on . Most recent reply

User Stats

63
Posts
9
Votes
Don Ireland
  • Holts Summit, MO
9
Votes |
63
Posts

Q RE Recent Blog Article on Mortgage Paydown

Don Ireland
  • Holts Summit, MO
Posted

In one of the most recent blog articles (I just received an email yesterday pointing me to it), the author (@Dave Van Horn) discussed using a HELOC as a sweep account.

It's method #3 in the following link.

https://www.biggerpockets.com/renewsblog/eliminate...

This sounds to me like using a HELOC to make payments on the primary mortgage. But a HELOC would typically have a higher interest rate than that of thr primary mortgage.

So how would this be a benefit?  What am I missing?

TIA!

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