3 Little Known Ways to Pay Off Your Mortgage Early and Save Thousands

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Discover 3 Ways to pay off your home in as little as 5-7 years while saving up to hundreds of thousands of dollars

For most Americans a mortgage is by far the largest expense they will ever pay. As many are in dire financial straits right now, especially with the current effects of inflation, we decided to see what we could do to help homeowners save money. Surprisingly, we discovered some easy ways to save, along with a method that may help homeowners pay off their mortgage in 5-7 years (while saving a lot of money along the way).

How you say? Impossible? That’s what we thought as well, but there are a couple strategies available for almost all homeowners (particularly those with a 30-yr mortgage) to take advantage of some easy loopholes. Afterall, a 30-year note will result in typically paying more in interest than you do for your home. By implementing just a few of the strategies we learned from the “Replace Your University” guys, we discovered a few ways to accelerate the process and save you thousands no matter what your current situation may be.

Replace Your University, one of the leading companies in the financial and mortgage education industry, discovered a better alternative that has enabled many homeowners to save on average $200k on their home. The company was started in 2014 by Michael Lush after he used this strategy to pay off his mortgage in just 3.5 years. Recently, they were recognized as one of a Top 3 Movers & Shakers in the Financial Education Industry

It all started back in 2012 when Michael Lush called a longtime friend, Matt Workman (who is the current COO of RYU), and asked him to run the numbers on the strategy to pay off your home in 5-7 years he had just learned about from his mentor. Knowing Matt was great with numbers, he wanted some external validation of the strategy. After all, it sounded too good to be true. Mr. Workman replied, “So I ran the numbers and looked at it from a bunch of different angles with the information I had, and as long as someone is disciplined, then this strategy would absolutely work!” Shortly after this conversation, Mr. Lush tested the theory resulting in successfully paying off his home in 3 1/2 years.

Now they’ve helped more than 7,000 homeowners successfully save hundreds of millions in interest payments. While they help (typically) affluent clients implement their primary strategy – really the guys at the company are a bunch of finance gurus who go through every possible scenario and use their combined 70+ years of experience in the housing industry (and beyond) to engineer the best results possible for their clients.

Here are the tips they freely shared to help our readers no matter their current financial situation

TIP #1 – Fix your financial foundation and create solid positive cashflow and a manageable debt load

One of the valuable tips provided by RYU is to build your lifestyle around your income – meaning to not overspend and have positive cash flow at the end of the month. While simplistic sounding, this is critical to building a solid financial foundation that allows you to make the intelligent financial moves without everything collapsing. You can accomplish this by doing the following things. Write down and discuss your financial goals with your loved ones. Identify where each dollar earned is going. Understand good vs. bad debt. Use better financial products and tools, and build a financial team to support your goals and financial journey.

TIP #2 – Increase your monthly mortgage payment (even if only slightly)

Now that you have your foundation put together it is time to reduce the amount you’ll pay on your home (via interest payments) plus you’ll pay off your home early. Increase the amount you pay on your mortgage (even if only a small amount every month) because over 30 years even a small amount will save you tens of thousands on unnecessary interest payments. For example, paying $300 extra per month on an $800k mortgage will save you $115k and 4.5 years on your note.

If you already have a solid financial foundation and a healthy positive cashflow then you may want to consider using a Home Equity Line of Credit (HELOC) – this is the main strategy Replace Your University helps clients intelligently implement with near-miraculous results.

TIP #3 – Strategically invest the money you save

Now you can take your newfound capital and invest in solid assets that will help you build wealth. If you apply tips 1 & 2 then you should be in a solid financial position and ready to begin building.

Your money should always be moving to places where it can compound. Gone are the days where Savings accounts provide a safe haven for your money to grow. By understanding what assets are in the market, what benefits and risks they carry, and how they should be invested you put yourself in position to maximize your returns. The question often is where do I go to start? The best answer is become part of a network of people already doing it. The rich all have a network, and they invest with each other. If you want to streamline your learning, understanding, and opportunity to invest then you must become part of an established network of people that are already doing it. RYU has created that network to help investors new and experienced alike.

You can learn more about Replace Your University by going to their website