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Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living ...
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Velocity banking is a strategy where you use a line of credit as your primary account and use lump sums to pay off a loan, usually a mortgage. The idea behind this is that using a line of credit will help you use your cash flow and extra money to cover your expenses but also go toward paying off your mortgage. Most often the velocity banking strategy utilizes a Home Equity Line of Credit (HELOC)
We look at the numbers and the pros and cons of using this type of strategy to pay down your mortgage. The results are quite interesting. We discuss and compare results on this episode here.
More on Velocity Banking here: https://mcfieinsurance.com/velocity-banking-comes-to-a-screeching-halt-for-many/
📄 INFINITE BANKING MADE SIMPLE | Get the free binder here: https://mcfieinsurance.com/infinite-banking-made-simple-binder/
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