In this episode of the RYU Podcast, Michael Lush talks about home equity lines of credit (HELOCs) and the benefits they offer. A HELOC is a revolving line of credit tied to your home, just like a credit card. 


The good thing is that it doesn't cost anything if you haven't used it. HELOCs offer simple interest, meaning that you only pay interest on the balance you have. You can pay it down to reduce the interest you pay. This is called recasting. Unlike mortgages, you can recast HELOCs without paying anything. 


There are two types of HELOCs: those in second lien position and those in first lien position. A HELOC in second lien position is for homeowners who already have a mortgage but have equity in their home. A HELOC in first lien position replaces an existing mortgage. Lush explains that HELOCs are more efficient tools for financing real estate than mortgages. In fact, some banks allow first-time homebuyers to buy property with a HELOC instead of a mortgage. 


This episode is filled with useful information for anyone looking to leverage their home equity to improve their financial position.







#35 - How To Get A HELOC

This podcast is dedicated to helping homeowners pay off their home faster using a Home Equity Line of Credit and to pay way less mortgage interest than with the traditional 15 and 30 year mortgages they are sold. Sound too good to be true? Maybe. All we ask is you listen in as your podcast host Matt Workman talks with HELOC expert Michael Lush on the different aspects of how this strategy works and why the banks don’t want you to know about it. Each episode will share more details about using a HELOC as well as featured success stories from clients of Replace Your Mortgage. If you have a mortgage and you have looked at your principal not really lowering as fast as you would like, there is a reason for that. We cover how the debt cycle with mortgages keeps repeating itself and leaves the borrower paying double for their house and in debt until retirement age. If you want to pay off your biggest debt and be able to spend more time with your family, this podcast is for you.

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In today's video, Michael Lush discusses a financial product called the Debt Service Coverage Ratio (DSCR) loan, designed for individuals who already own a home and have done so for at least 12 months. The DSCR loan differs from conventional loans as it bases eligibility on the potential rental income of the investment property rather than the investor’s income. This makes it an attractive option for those whose tax returns may not traditionally qualify them for conventional loans. Michael outlines the requirements for obtaining a DSCR loan, including needing a down payment and maintaining a 25% margin above property expenses to qualify. This video is aimed at helping potential investors understand an alternative route to purchasing investment properties.




Teaching how you can pay your mortgage off in 5 years or less. Here's how. 

#91 - How to Buy Investment Properties When Your Bank Says NO

Teaching how you can pay your mortgage off in 5 years or less. Here's how. 

#90 - Do You Know Your Hourly Rate? Here's Why You Should.

(This episode originally aired in April of 2023)


In this episode of the Replace Your University Podcast, Michael Lush discusses the drawbacks of traditional mortgages and introduces a strategy to replace them with home equity lines of credit. He emphasizes the importance of budgeting, replacing mortgages, using HELOCs as operating accounts, and maintaining discipline to resist impulsive spending. Michael provides insights on leveraging HELOCs for investments like real estate to generate passive income. Tune in to learn how to optimize your finances and build wealth through strategic financial decisions.






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(RECAST) - How to Resist Buyer's Temptation

In this episode of the Replace University Podcast, host Michael Lush dives into the benefits of using Home Equity Lines of Credit (HELOCs) versus traditional mortgages, focusing on their flexibility and strategic advantages. He presents seven essential questions to consider for maximizing a HELOC's potential, including choosing the right interest rate index, employing offset accounting for interest savings, and leveraging HELOCs with other financial products for wealth creation. Lush also explains "rate stacking" for minimizing interest costs and the innovative use of HELOCs as a temporary income source during financial hardships. This episode serves as a guide for homeowners interested in using HELOCs wisely to achieve financial freedom and build a legacy.


Teaching how you can pay your mortgage off in 5 years or less. Here's how. 

#89 - 7 Critical Questions Every HELOC User Should Answer

In this episode of the Replace University podcast, Michael Lush is joined by Derek Minyard, who shares his enlightening experience with Home Equity Lines of Credit (HELOC), detailing how it revolutionized his financial strategy and real estate investments. Through Derek's journey, listeners learn about the advantages of HELOCs, including various rate options and the potential for significant returns through savvy banking and investment tactics. Additionally, Derek introduces his company, Fimi Collective, highlighting its mission to amplify impactful messages. This episode is packed with insights on leveraging equity for financial freedom, navigating the banking system for the best HELOC deals, and the power of strategic investment during economic fluctuations.


Teaching how you can pay your mortgage off in 5 years or less. Here's how. 

#35 - How To Get A HELOC

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