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. I’m just wondering how often you would have to make these large payments and when the house is paid off how much debt you would you have accrued with the HELOC?
Actually the plan seems pretty simple. Its doing what everyone ells says you can do on your own except using a HELOC loan as leverage to be able to increase your payment at certain times.
The software is there just to remind you when to make payments and not get into trouble. I don’t really see how this could be bad. Maybe I’m missing something.
