Paying off a mortgage very quickly

[Gulliver R.]

BP,

http://www.claytonmorris.com/blog/2015/7/20/how-to...

The link above talks about paying off a mortgage in a matter of roughly 5 years+/-. After reading it, I was still skeptical. Any mortgage professionals or anyone who has heard of this strategy before care to shed some light on if it is legit, and if so, does it work?

Thank you,

G

[Michael Moheng]

From my understanding the way you save with a heloc is you save on interest charges by making a large lump payment on the principle of your mortgage while still paying your normal monthly payments. As for what to do in an emergency such as auto or house repairs you either save room on the heloc to cover say a 10k cushion or keep a side credit account specifically for that purpose that you can pay with the heloc after the crisis has been taken care of. 

The magic happens with this strategy by having room for emergencies while still leveraging your funds to clear all of your debt.