-- Accelerated Strategies, once known as Accelerated Banking, introduces a HELOC strategy. This plan could help homeowners cut their mortgage repayment time from 30 years to only 5-7 years.
Accelerated Strategies, a top financial education, consulting and software firm in the US, has revealed a new idea. This concept could cut mortgage repayment times for American homeowners to just 5-7 years. This initiative comes as the U.S. Census Bureau reports that Americans are quite mobile. On average, a U.S. adult moves 11.7 times in their lifetime. In this context, the traditional 15-30 year mortgage is a big commitment. It ties up years of financial planning and saving for many people.
Sam and Daniel Kwak, Co-Founders of Accelerated Strategies.
Sam Kwak CFEI, the Founder of Accelerated Strategies, highlights the Home Equity Line of Credit (HELOC) as a key part of this method. In other countries such as Australia and New Zealand, a similar concept exists. However, the banks in those countries offer an "offset account". Using such accounts could help save money for its borrowers. Because such account doesn't exist here in the U.S., Accelerated Strategies has discovered a way to replicate the concept using a HELOC. A HELOC is a flexible loan using a home equity as collateral. Unlike a mortgage, a HELOC has daily- interest rates and an open-ended credit structure.
Accelerated Strategies uses HELOC loans in a way that most don't realize. Homeowners can use these strategies to cut their loan payment period. Instead of the usual 15-30 years, they could reduce it to just 5-7 years. Kwak and his company, Accelerated Strategies, call the strategy "Accelerated Payoff Concept".
The Accelerated Payoff Strategy
Kwak explains the core idea of the Accelerated Payoff Concept. Most American homeowners keep their pay check in a checking account. Most U.S. checking accounts today offer little to no interest earnings for the account holder. Instead of keeping their paycheck in a checking account, homeowners can keep their paycheck on a HELOC. This help to lower the daily balance on the HELOC which results in lower interest cost quickly. Also, the revolving nature of the loan lets the homeowner take out money for daily expenses. But here's how the mortgage is paid down quicker. The strategy suggests making a big principal payment on the mortgage. Homeowners can use funds from the HELOC for this. This quickly reduces the balance of the mortgage - being subject to less interest.
Sam Kwak says, "It may appear like using debt to pay off debt, the HELOC and the mortgage use different interest calculation." Kwak further continues to explain, "HELOCs use daily interest calculation, paid monthly. Mortgages use monthly interest calculation. So it's not just using debt to pay off debt. It's about using a more efficient tool."
Accelerated Strategies say the Accelerated Payoff concept might outshine traditional methods. Kwak says the Accelerated Payoff concept could be more fruitful than just making extra mortgage payments, like bi-weekly payments. Kwak says "Making extra payments on a mortgage changes only the monthly ending balance. This means interest is charged on the month's ending balance, no matter how often homeowners make payments. Using the Accelerated Payoff strategy gives homeowners daily opportunities to save money - potentially reducing the loan balance even more".
Kwak highlights that the key to these strategies is not the financial tools alone. It’s about how well a homeowner plan and use them to achieve quick debt freedom. Accelerated Strategies focuses on its clients. They look closely at each homeowner's finances. This helps them suggest the best path to full homeownership without any debt. Accelerated Strategies offers customized guidance and financial literacy education and software services. This gives homeowners more control and awareness.
https://acceleratedstrategies.com/video
Since 2015, Kwak has been teaching the Accelerated Payoff concept. In 2021, Kwak starts Accelerated Strategies with partners who share similar passions. Since it started, Accelerated Strategies has helped thousands of clients across the country. Accelerated Strategies saved these clients a lot of money and cut years off their payments. The company has a strong track record. Many positive reviews are found on TrustPilot and the Better Business Bureau.
In his closing remarks, Kwak states that his passion is to see American families experience peace of mind and independence. Kwak says “I’m a man of faith. I believe that financial debt is a form of spiritual and mental oppression. Our work isn’t just about dollars and cents. It’s about giving people hope for their future. It’s no wonder why the Bible talks so much about money”
Sam Kwak invites everyone to join a free online webinar about Accelerated Strategies and its financial plans. Homeowners access it on the firm’s official website.
https://acceleratedstrategies.com
CFEI stands for Certified Financial Education Instructor.
Contact Info:
Name: Sam Kwak
Email: Send Email
Organization: Accelerated Strategies
Website: https://acceleratedstrategies.com
Release ID: 89160573
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