willowstudios,
I have run all the calculations using paper, pencil and my TI-89 calc and sent the paper into a mathematics professor ( he was my advisor and he has a doctorates) at the University I attended to get my bachelors degree to check my work. This system does not pay off your mortgage in 8 - 11 years through any means of manipulating interest rates and average daily balances from you heloc and fixed loan. Granted some of the manipulations will save you money because interest even if it is higher is calculated differently on a heloc but the savings from that is paltry. The majority of savings comes from extra payments (if you want to call this discretionary income, extra income I don't care it is money put in addition towards your regular monthly payment).
My only thing is stop telling people we are not looking at the whole picture and the book will explain everything. I know smoking is bad for me but I don't have to smoke find this out. I have looked at the whole picture. You are right that in this system you can make extra payments through discretionary income (LOL that term makes me laugh) and if for some reason you need a $1000 dollars or some other amount you have access to it unlike a direct principal payment to your loan. However this is exactly why the first thing everyone tells you on this board is to have a 3 - 6 month emergency savings for exactly this purpose. If you get into a rut lose your job and you keep relying on the HELOC you will not be paying off your mortgage in 8 - 11 years but actioning off a foreclosure in 6 months or less.
Now all that said I agree with others if you think this will help you by all means do it. Any system that works for you is a good system. However we are here to tell you this has a great deal of risk involved. You seem pretty adimate about the program so go for it and in five years come back here and tell us how the system worked for you.
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