Accelerated Banking unveils a HELOC strategy aiming to allow homeowners to reduce mortgage repayment periods from 30 years to just 5-7 years.
Hendersonville, Tennessee--(Newsfile Corp. - April 8, 2024) - Accelerated Banking, a leading financial institution in the US, has announced a concept aiming to shorten the mortgage repayment period for American homeowners to just 5-7 years. This initiative arrives amidst data from the US Census Bureau revealing the nomadic nature of Americans, with the average US adult relocating 11.7 times in their lifetime. Amidst this backdrop, the traditional 15-30 year mortgage has become a huge commitment for many, locking in decades of financial planning and saving.
Accelerated Banking Introduces HELOC Strategy for Rapid Mortgage Repayment
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Sam Kwak, the visionary Founder and CEO of Accelerated Banking, sheds light on the Home Equity Line of Credit (HELOC) as the cornerstone of this approach. The HELOC offers a flexible, dynamic means of financing, characterized by daily-amortized interest rates and an open-ended credit structure. This allows homeowners to efficiently manage their debt, leveraging the HELOC's revolving credit to mitigate interest fees and maintain access to funds as needed.
Accelerated Banking's strategic application of HELOC loans encompasses two core methodologies aimed at either reducing or altogether replacing conventional mortgage loans. By adopting these strategies, homeowners can see the duration of their loan payments potentially decrease from the traditional span of 15-30 years down to a mere 5-7 years. Through tailored guidance and financial literacy education provided by Accelerated Banking, these strategies present minimal risk and impose no additional financial burden on clients.
The first strategy introduced involves converting an existing mortgage into a first-lien HELOC, which functions both as a mortgage and a home equity loan. Kwak suggests treating this HELOC akin to a checking account, allowing homeowners to direct their paychecks into the HELOC, utilize it for daily expenditures, and to also reduce the average daily balance, thereby diminishing the accrued interest.
For those not eligible for a first lien HELOC, Accelerated Banking offers an alternative route through a second lien HELOC, which serves to lower the principal balance of an existing mortgage. This accelerates the amortization schedule, reducing the time required to settle the debt in full.
Kwak emphasizes that the essence of these strategies lies not in the financial instruments themselves but in the careful planning and execution of these tools towards achieving rapid debt freedom. Accelerated Banking prides itself on its client-centered approach, carefully assessing each homeowner's financial situation to recommend the most effective strategy towards achieving outright homeownership, devoid of lingering debt.
Sam Kwak on accelerated mortgage repayment
For over eight years, Accelerated Banking has championed the financial liberation of American homeowners, saving them thousands of dollars and years of payments. The firm's surprising track record is echoed in numerous positive testimonials across TrustPilot and the Better Business Bureau.
In his closing remarks, Kwak says that while a HELOC is instrumental in the firm's strategies, it is not an absolute necessity. The fundamental goal is to empower homeowners with effective tools and knowledge to achieve financial independence swiftly and securely.
To learn more about Accelerated Banking and its financial strategies, Sam Kwak invites the public to attend a complimentary 1-hour online webinar accessible through the firm's official website.
Contact Info:
Name: Sam Kwak
Email: sam@acceleratedbanking.com
Organization: Accelerated Banking
Website: https://home.acceleratedbanking.com
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