Building Your Money Machine

Should You Use a HELOC to Payoff Your Mortgage?


Listen Later

The idea of using a Home Equity Line of Credit (HELOC) to pay off your mortgage is an intriguing financial strategy that has gained popularity in recent years.

It's often touted as a way to save money on interest and potentially pay off your mortgage faster. But is it the right choice for you?

In this episode, I aim to provide a comprehensive and well-rounded perspective on the subject. By doing so, I can help you gain a deeper understanding of the HELOC strategy and its associated implications. It is essential to consider both the advantages and potential risks before deciding if this approach aligns with your overarching financial goals.

If you are seeking clarity on whether using a HELOC to pay off your mortgage is a suitable path for your financial journey, and if you want to make an informed decision that aligns with your unique circumstances, this episode is a must-watch.

IN TODAY’S EPISODE, I DISCUSS: 

  • How a HELOC works
  • The potential benefits and pitfalls
  • The pros and cons of using a HELOC to pay off your mortgage

RECOMMENDED EPISODES FOR YOU
If you liked this episode, you'll love these ones:

  • Annuities...Investment, Insurance or Scam
  • What to Do Now to Lower Taxes Before Year End
  • Q&A Why Taking a 401K Loan Can Destroy Your Wealth
  • My Favorite Investing Accounts (And How to Maximize Your Returns)

TAKE THE FINANCIAL FREEDOM QUIZ:
Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com 

OTHER RESOURCES:
7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com
Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/

CONNECT WITH ME:
Website: MelAbraham.com
YouTube: MelAbraham.com/tube
Instagram (@melabraham9): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

...more
View all episodesView all episodes
Download on the App Store

Building Your Money MachineBy Mel H Abraham, CPA, CVA, ASA

  • 5
  • 5
  • 5
  • 5
  • 5

5

232 ratings


More shows like Building Your Money Machine

View all
The Smart Passive Income Online Business and Blogging Podcast by Pat Flynn

The Smart Passive Income Online Business and Blogging Podcast

3,440 Listeners

Afford Anything by Paula Pant | Cumulus Podcast Network

Afford Anything

3,551 Listeners

Achieve Your Goals with Hal Elrod by Hal Elrod

Achieve Your Goals with Hal Elrod

1,335 Listeners

The Amy Porterfield Show by Amy Porterfield

The Amy Porterfield Show

4,579 Listeners

The Mind Your Business Podcast by James Wedmore

The Mind Your Business Podcast

1,646 Listeners

Plenty with Kate Northrup by Kate Northrup, Author, Entrepreneur, and Speaker

Plenty with Kate Northrup

661 Listeners

ChooseFI by ChooseFI

ChooseFI

5,139 Listeners

Journey To Launch by Jamila Souffrant

Journey To Launch

1,686 Listeners

BiggerPockets Money Podcast by BiggerPockets

BiggerPockets Money Podcast

3,081 Listeners

Earn & Invest by Jordan Grumet (Doc G)

Earn & Invest

454 Listeners

The Jasmine Star Show by Jasmine Star

The Jasmine Star Show

2,606 Listeners

All the Hacks: Money, Points & Life by Chris Hutchins

All the Hacks: Money, Points & Life

1,612 Listeners

Mile High FI Podcast by Doug Cunnington & Carl Jensen

Mile High FI Podcast

202 Listeners

Catching Up to FI by Bill Yount & Jackie Cummings Koski

Catching Up to FI

356 Listeners

BigDeal by Codie Sanchez

BigDeal

921 Listeners