[willowstudios]

The HELOC will have a higher rate, but since its calculated daily it's not the same thing as the 1st mortgage. The reason you use a HELOC is because it's access to money whenever you need it - when you get a paycheck you're paying it back. When you calculate the interest rates the HELOC will be much less interest. What I've read is that it will be in the 1-2% range depending on your expenses. That's the key - don't spend what you don't have. If you follow a budget and always put your surplus into the HELOC you're all set. But, because life throws curve balls you're suppose to factor in an emergency fund. Some people use cash in a savings account, but since you have a HELOC it's just like having a savings per say. You just tap it when you need it. The software will tell you what you just borrowed and alert you that you just went into the red...so, you can begin to start re-budgeting your money. It automatically with re-calculate to get you back to EXACTLY where you were...all you have to do is re-adjust expenses and savings again.

Yes, it seems like using a regular Excel speadsheet will do the same thing. But, I can assure you after seeing the software and following the directions you'd see how it's not the same.

The reason that a HELOC is different from just sending in your extra money when you have it is because you're borrowing the money! You have to wrap your head around this - it takes a month or so to get into the system of using it. How can using the banks money at very low rates not register with you? All of your money is being used to SAVE interest in the 6% range (depending on your 1st mortgage). How can you not see the advantage of getting on a system that costs relative to what you get back PEANUTS. I'm serious - the more you educate yourself about this thing the better it looks.

Believe me - you need to read the book - I'm 75% done with it. It's all in there. Otherwise, take 1 hour of your life and join the free Webinar at Speed Equity. I'm planning on attending the one tomorrow right.