Colorado First Lien HELOC For Fast-Tracked Mortgage Repayment: Guide Released

A new guide has been released for Colorado homeowners looking to fast-track their mortgage repayments using a first-position Home Equity Line of Credit (HELOC) offered exclusively by Irina Saveliev of Paidoff™ (303-870-8337).

The new guide provides insight into how a Paidoff™ HELOC differs from the similarly named products offered by the big banks. In particular, the guide indicates how financially disciplined homeowners can use the Paidoff™ HELOC to pay off their mortgage in record time due to the company’s Much Faster Formula©.

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

The latest statistics indicate that the majority of homeowners struggle to pay off the entirety of their loan before the end of their 30-year mortgage. Irina is known as “The Mortgage Breaker™” due to her reputation for educating homeowners on how to pay off their mortgages Much Faster. She attributes a borrower’s struggle to regain their financial freedom to how traditional HELOCs are structured.

Paidoff™ HELOC combines a client’s checking account with their mortgage under one account and provides access to a line of credit for house renovations or whatever else the homeowner wants to do. Banks and credit unions only offer their HELOCs as second-lien loans with a variable interest rate based on the US prime rate.

The Paidoff™ HELOC is a first-lien product that allows homeowners to apply their funds directly to the principal, dollar for dollar, and its lower variable interest rate is based on a one-year constant maturity rate. This results in a much faster payoff. Furthermore, since Paidoff™ clients only pay simple interest, the loan balance is much lower and accelerates the time to pay off their homes. The number of payments needed is drastically reduced versus a regular mortgage or HELOC, which yields significant savings in interest costs for the homeowner.

With the Paidoff™ HELOC, clients can access a line of credit of up to $2 million for 30 years, triple the average term of 10 years offered by traditional HELOCs. Paidoff™ also allows unlimited payments and promotes sound financial habits.

This level of flexibility, the guide claims, is why the traditional big bank HELOCs see millions of foreclosures across the country, whilst the Paidoff™ has not had a single foreclosure since its inception.

“The benefits of the Paidoff™ Home Equity Line of Credit simply cannot be replicated by your bank,” says Irina Saveliev. “Since Paidoff™ is a first lien HELOC, all the interest is tax deductible, unlike a bank or credit union HELOC where the interest deductions are limited due to the IRS regulations.”

Coloradans interested in learning more about fast-tracking their mortgage are encouraged to read https://www.thepaidoff.com/paidoff-vs-heloc

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