Has anybody used velocity banking to pay off their mortgage?

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    Ainzlee

      You know, these things concern us a lot.

      #86346 Reply
      Michael

        That’s just a new name for an old gimmick. It’s not magic, but it could leave you in worse shape if it goes south. If you want to kill off your mortgage, make extra principal payments.

        HELOCs have higher rates and are subject to calls.

        Two big negatives on your home.

        #86347 Reply
        Burt

          My opinion is that if you have any other debt then don’t even think about it. Get rid of ALL debt and then you can think about the mortgage. ALL.

          #86348 Reply
          Elizabeth

            as this has come up frequently. Totally agree that it’s overly complicated and gimmicky. If you want to pay off the mortgage faster, there are easier ways.

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