Replace Your Mortgage The Proven 6-Step Method To Paying Off Your Home In 5-7 Years Using Just Your Current Income Michael Lush and David Dutton
Copyright 2015 by Michael Lush and David Dutton All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write to the publisher, addressed Attention: Permissions Coordinator, at the address below. Michael Lush and David Dutton - Replace Your Mortgage 4044 Sequoia Trail Spring Hill, TN www.replaceyourmortgage.com Printed in the USA by MiniBuk.com Replace Your Mortgage -- 1st ed. ISBN 978-0-0000000-0-0
THIS BOOK IS A GIFT FROM:
After reading this book, we encourage you to go to www.replaceyourmortgage.com and sign up for our FREE webinar that provides more detail about using the proven 6-step method to paying off your home in 5-7 years using just your current income. You owe it to yourself and your family to learn how to implement this method.
If people understood the banking system, there would be a revolution by morning. Henry Ford If you are like me, you have looked at your mortgage statement and seen how regularly making those monthly payments barely makes a dent in the principal balance. Ouch! I feel your pain. Fortunately, you are about to discover a proven 6-step method to paying off your home in 5-7 years using just your current income. This method is not on trial. The evidence is in, and it works! What is on trial is whether you will actually use this free information to set your family free from debt. { 1 }
ReplaceYourMortgage.com Who Is This Method For? { 2 }
www.replaceyourmortgage.com This method is for A current homeowner or potential homeowner, specifically someone who does not want debt to dictate their flexibility. A current homeowner with 10% equity or a potential homeowner with a 10% down payment. While these figures are ideal, we have found several banks that do not require any equity! A person with at least a 640 credit score. Take note that this is a decent, not perfect, credit score. A person who is cash flow positive, meaning your income exceeds your expenses. If the above information describes you, why wait any longer to begin the 6-step method, which has worked for millions of others. This method is for you! { 3 }
ReplaceYourMortgage.com What Is This Method Not? { 4 }
www.replaceyourmortgage.com This method is NOT An illegal scam or a trick. A HARP loan, Streamline refinance, nor any other traditional mortgage product. A tool reserved for the wealthiest among us. This method uses a little known financial product banks have had for decades called the home equity line of credit (HELOC). I have been in the mortgage business for 14 years and have originated thousands of mortgages. It was not, however, until a meeting with my mentor, 4 years ago, that I discovered the power of using a HELOC to pay off a home mortgage quicker. My mentor had several wealthy clients, who I wanted to meet in hopes of gaining their mortgage business. When I proposed my idea to my mentor, he shared something quite unexpected with me. { 5 }
ReplaceYourMortgage.com His wealthy clients did not have mortgages! Being wrong about the mortgages, I naturally assumed they had simply paid cash for their homes. Wrong again! These wealthy clients used lines of credit. The 6-step method explained in this book is the same strategy the wealthy use to pay off their homes faster than some people are able to pay off their cars. This 6-step method is not reserved for the wealthy. See, I used to chase low interest rates and low payments on long term loans like everyone else never getting anywhere. That was before I learned about the 6-step method. Now, my family and I are just eighteen months away from paying off our home! We did this without making more money, cashing out retirement or college funds, or sacrificing our lifestyle. We did this on just my current income, and you can too! Oh, and I did not invent this method. It has been around since 1997. { 6 }
www.replaceyourmortgage.com Why Is This Method Not More Popular? { 7 }
ReplaceYourMortgage.com This method is not more popular simply because it is not profitable for banks! Let me give you an example. A 30 year mortgage on a $250,000 loan with a 4.5% interest rate will cost you $456,016.78 over the term of the loan. This total does not include closing costs or mortgage insurance. Also, it is unlikely your home will appreciate enough, even over 30 years, to actually be worth the $456,016.78 you will have paid to the bank. So, you see, if banks marketed a HELOC over a traditional mortgage, they would lose a lot of profit. Another shocking reason why this method is not popular is that most loan officers and bankers know nothing about it! Their low rate/long term institutionalized tunnel vision keeps them blinded to better alternatives. { 8 }
www.replaceyourmortgage.com If the loan officers do not understand the benefits of a HELOC, how are they ever going to teach it to you? NOTE: Both David and I are mortgage lenders. While we know a HELOC is the best option, some individuals will not use the 6- step method for various reasons, whether they do not qualify or they believe that what we teach is simply too good to be true. Those still interested in a traditional mortgage should contact David Dutton at 615-796-0104. { 9 }
ReplaceYourMortgage.com The Solution? { 10 }
www.replaceyourmortgage.com The Solution is simple You will use a HELOC to pay off your mortgage. Clients can usually do this in about one-third of the time. We have even seen some clients pay off their loans quicker than most people pay off their vehicles. Note: If you attend one of my classes, you will learn the exact type of HELOC to use along with my list of the 24 banks that offer these types of loans. Once you have your HELOC account setup, you will begin adding money to the account. You will then pay all of your bills from your HELOC account. Money in this account can be accessed at any time. See, unlike a traditional bank account where adding money raises your balance, any money remaining in the HELOC account after paying bills will drive down the daily balance owed, resulting in you paying less interest than you would with a traditional mortgage. { 11 }
ReplaceYourMortgage.com Some of the other advantages in using a HELOC include: no closing costs, which will save you at least $2,225, if not more; no mortgage insurance ever; and no down payment since some banks will offer 100% financing. { 12 }
www.replaceyourmortgage.com How To Build A Real Estate Empire Using A HELOC { 13 }
ReplaceYourMortgage.com You can build a real estate empire by using this method to actually build wealth, not just paying off your loan more quickly. Imagine how much money you could invest if you did not have a mortgage payment. By using the Replace Your Mortgage 6-step method, you could own two homes free and clear by the time your neighbor pays off just one home. { 14 }
www.replaceyourmortgage.com One option would be to use a HELOC to buy a vacation home then rent the home when you are not using it, which will help pay off the home even faster! Now you are getting paid to vacation in your own home! Powerful right? Are you seeing the opportunity? Remember, this is not magic, it is math. { 15 }
ReplaceYourMortgage.com Our free daily webinar provides the details on buying investment properties and how a HELOC can work with investing in general. Be sure and register for the free webinar by going to www.replaceyourmortgage.com. The daily webinar is designed for those interest in investing, but it is also the starting point for those who are not interested in building wealth but simply want to pay off their home in 5-7 years. { 16 }
www.replaceyourmortgage.com What Should You Do Next? { 17 }
ReplaceYourMortgage.com Next, you get to decide whether to pursue this proven method of paying off debt or whether to pass and continue on as before. Do you remember the movie Indiana Jones? There is an iconic scene where Indiana needs to cross a massive canyon to get to the cave? The map showed him that he was in the right place, but to actually move forward, he had to have faith that there was a bridge for him to cross, despite it not being visible. You are in a similar situation right now. You are holding the map, and in front of you is a bridge that leads to greater financial freedom, but you have to have the faith to take that first step. { 18 }
www.replaceyourmortgage.com Here are your options: Option 1: You can choose not to step onto the bridge. Maybe this all sounds good, but you just feel more comfortable paying the bank the equivalent of two homes instead of one. Option 2: You can choose to get more information on implementing the 6-step method and on attending my class. We offer a free webinar 7 days a week that you can attend from the comfort of your home, during which we dig into the details about HELOCs and the exact 6 steps to follow. Option 3: You can choose a free one-on-one discovery call to determine: how many months faster you will pay off your mortgage using the Replace Your Mortgage 6-step method vs a traditional mortgage; { 19 }
ReplaceYourMortgage.com whether this method will actually work for you personally by plugging in your own numbers; what your cash flow positivity is; how to increase your cash flow without increasing your income; and how to increase your credit score. To book a free discovery call, contact David at 615-796-0104 or visit us at www.replaceyourmortgage.com. { 20 }
www.replaceyourmortgage.com Your Debt Free Date During your free one-on-one discovery call, we will crunch your own numbers to show you how many months it will take to become debtfree. Write your number in the blank below so it will remind you of the day that you achieve financial freedom. Your number: { 21 }
ReplaceYourMortgage.com After the free discovery call, if I see that you would benefit from having a HELOC instead of a traditional mortgage, I will provide you the details about our popular implementation class. As part of this class we will: walk you through the whole process; stay with you until you reach your goals; and show you where to get the right HELOC, how to structure it, and how to implement it. I hope you found this book helpful and you now have something to seriously think about. If you have any questions or comments, please do not hesitate to contact us at any time. We would love to answer your questions. We are passionate about helping families pay off their home in 5-7 years on just their current income. { 22 }
www.replaceyourmortgage.com About The Authors { 23 }
ReplaceYourMortgage.com Michael Lush lives in Thompsons Station, TN along with his wife and two kids. He has spent fourteen years in the mortgage industry and has helped thousands of clients become homeowners. { 24 }
www.replaceyourmortgage.com David Dutton lives in Spring Hill, TN along with his wife and daughter. The author of five books, David has owned and operated a successful marketing company for the last fifteen years. He became a loan officer after seeing the need for someone to help the selfemployed with their mortgage needs. { 25 }