Colorado First Position HELOC For Debt Repayment Best Practices Guide Released

Denver-based mortgage consultants Paidoff™ (303-870-8337) have shared their best practices on managing a first-position HELOC to enable faster debt repayment.

In the new guide, Paidoff™ notes that first-lien HELOCs give borrowers access to higher loan amounts and the revolving line of credit encourages them to pay down their mortgage. The Paidoff™ program is positioned to help Colorado homeowners grow their wealth by becoming mortgage-free Much Faster© than is possible by most other repayment options offered by banks, credit unions, and other traditional lenders.

Further details are available at http://thepaidoff.com

Traditionally, a HELOC is underwritten as a second-lien mortgage subordinate to a fixed or ARM loan. Second HELOCs allow homeowners access to limited funds for home improvements, debt consolidation, or even education expenses. Paidoff™ has expanded its educational resources by documenting best practices that help borrowers use their first-position HELOC to systematically pay off debt while leveraging home equity to build wealth.

According to the new best practices guide, Paidoff™ clients can use their first position HELOC to take years off of their mortgage repayments thanks to the company’s Much Faster Formula©. As mortgage debt is usually the largest household loan, eliminating it sooner will allow homeowners to regain their financial freedom.

“For our clients, the Paidoff™ first position HELOC effectively acts as their household’s financial hub,” explains company founder Irina Saveliev aka Irina the Mortgage Breaker. “All income and outgoings operate through it, keeping everything simple and easy to manage. Then, by following our best practices, you can use this one-stop financial toolbox to pay off your mortgage debt more efficiently, freeing up your finances and growing your wealth.”

The Paidoff™ best practices guide advises clients to take advantage of simple interest payments that are applied towards the principal rather than the interest. This helps pay down the initial value of the mortgage three to five times quicker, fulfilling the company’s Much Faster© promise.

Furthermore, the best practices guide suggests that Colorado homeowners can grow their wealth during the mortgage repayment term by utilizing the Paidoff™ HELOC’s line of credit. When these funds – available up to a limit of $2 million – are used to improve a home, explains the company, the appraisal value increases. So when it comes time to resell the property, the house will be worth more than the original mortgage value assessment, creating the potential for a profit.

Coloradans interested in learning more about the best practices for managing a first-position HELOC for faster debt repayment are encouraged to contact Irina Saveliev and the Paidoff™ team by visiting http://thepaidoff.com

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