So from what I understand the HELOC gives you the extra money to be able to drop a very large payment at certain times to enable you to shorten the life of the loan.

The problem is that you trade one loan for another. Monthly carry costs on the HELOC are higher than on the mortgage. HELOCs are recourse while purchase mortgages are not. This means that if you default on a purchase mortgage, you can walk away from the property w/o getting skinned (other than losing the property). If it is a recourse loan, the bank gets the property and then hunts you down for any remaining balance(while racking up huge default fees) and or later 1099’s you for the whole mess.. which means you owe Uncle Sam on taxes for loan forgiveness realized as income.

Before anyone says I don’t know what I am talking about on the above, Google on recourse/non-recourse loans and 1099s.

thanks for actually looking at this for yourself instead of assuming you know how it works…i’m with you so far in regards to how it appears

You assume I didn’t read it? Even though I went so far as to look up info on one of the people making statements about the program? as well as the program itself? Don’t assume someone hasn’t read it because they disagree and has read it because they agree with your impressions on the program. Here’s a warning on the MMA program

Here is a link on the program itself, and it is also why I am calling the HELOC a revolving line of credit

FYI: for know it all (ucodegen)…i just emailed the realtor that first exposed this to me a few months back and i’m asking him for an evaluation copy of the software…if they are worth their salt this should be easily attained….
Cool. Invent a salary, salary variance, pseudo mortgage, pseudo budget and all that, then I’ll run a side by side using a strict excess capital paydown but your source numbers for the above. I am stating pseudo because I don’t think people want to reveal their personal finances. It will also allow the generation of several scenarios.