Wrap around mortgage/Heloc

[former SoCal]

A friend of mine is trying to get me interested in something like, you deposite your paychecks directly to an account that pays your mortgage and if you need money, there is a HELOC involved. And you save money because you don’t have to pay your HELOC for a month until the interest is due. She says it’s very popular in Australia. I can see it being useful if you want all your money going to pay down the mortgage. But what happens if they pull your HELOC. Anyone knows anything about this??

[Raybyrnes]

They advertise this loan on a talk show AM 1000. Think they call it the Freedom Loan. Servicer is GMAC. Goal of program is to pay back in a period of time that is shorter than the loan term.

No idea if it is good or bad. Would need to speak to someone who has one to get an idea of its advantages or disadvantages.

[Raybyrnes]

They advertise this loan on a talk show AM 1000. Think they call it the Freedom Loan. Servicer is GMAC. Goal of program is to pay back in a period of time that is shorter than the loan term.

No idea if it is good or bad. Would need to speak to someone who has one to get an idea of its advantages or disadvantages.

[Raybyrnes]

They advertise this loan on a talk show AM 1000. Think they call it the Freedom Loan. Servicer is GMAC. Goal of program is to pay back in a period of time that is shorter than the loan term.

No idea if it is good or bad. Would need to speak to someone who has one to get an idea of its advantages or disadvantages.

[Raybyrnes]

They advertise this loan on a talk show AM 1000. Think they call it the Freedom Loan. Servicer is GMAC. Goal of program is to pay back in a period of time that is shorter than the loan term.

No idea if it is good or bad. Would need to speak to someone who has one to get an idea of its advantages or disadvantages.

[Raybyrnes]

They advertise this loan on a talk show AM 1000. Think they call it the Freedom Loan. Servicer is GMAC. Goal of program is to pay back in a period of time that is shorter than the loan term.

No idea if it is good or bad. Would need to speak to someone who has one to get an idea of its advantages or disadvantages.

[Coronita]

This was talked about here awhile ago.

They're called "mortgage accelerator program". I forget what the final conclusion was. Trying to dig out the thread…. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

This was talked about here awhile ago.

They're called "mortgage accelerator program". I forget what the final conclusion was. Trying to dig out the thread…. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

This was talked about here awhile ago.

They're called "mortgage accelerator program". I forget what the final conclusion was. Trying to dig out the thread…. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

This was talked about here awhile ago.

They're called "mortgage accelerator program". I forget what the final conclusion was. Trying to dig out the thread…. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

This was talked about here awhile ago.

They're called "mortgage accelerator program". I forget what the final conclusion was. Trying to dig out the thread…. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Author]

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