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Radical Personal Finance

979 EpisodesProduced by Joshua SheatsWebsite

Joshua J Sheats, MSFS, CFP, CLU, ChFC, CASL, CAP, RHU, REBC is a financial planner who teaches people how to live a rich life now while building a plan for financial freedom in 10 years or less. He mixes creative approaches to lifestyle design, deep-dive financial planning techniques, and hard-core … read more

1:36:24

315-Is Mortgage Acceleration (Replacing Your Traditional Mortgage with a HELOC) Really a Good Idea? Interview with Bill Westrom from www.TruthInEquity.com

On Episode 133 of the show, I had a listener ask me for my opinion regarding the concept of "mortgage acceleration."

Basically, it's the idea of taking out a HELOC on your house instead of (or in addition to) a traditionally amortizing mortgage, putting all your income against the HELOC and then paying your bills out of the HELOC.

The key idea with this strategy is that the average daily balance of your account is lower, reducing your interest payments.

In Episode 133, I was critical of the idea and the book that espoused it.

Today, I've brought the author of that chapter in the book on to defend the idea of mortgage acceleration as vigorously as possible.

Enjoy the show!

Joshua

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