Replace Your Mortgage: How to Pay Off Your Home in 5-7 Years on Your Current Income is a book that challenges the traditional mortgage system and offers a unique approach to paying off your mortgage in a fraction of the time. The book, authored by Michael Lush and David Dutton, provides valuable insights into using a home equity line of credit (HELOC) to achieve financial freedom.
The book delves into the case against a traditional mortgage, highlighting the drawbacks of making extra payments on a mortgage versus a HELOC. It also provides resources and strategies for paying off a home faster, even with minimal equity. The authors discuss the pros and cons of a HELOC, common mistakes to avoid, and how to build a real estate portfolio using this approach.
One of the key benefits of the book is its ability to introduce readers to a paradigm-shifting concept. Many readers found the information mind-blowing and eye-opening, particularly in terms of leveraging a HELOC to manipulate interest in their favor. The book is praised for its practical tips and the potential to revolutionize personal finance management.
However, some readers expressed concerns about the book’s promotional tone, feeling that it was at times more of a sales pitch than a comprehensive guide. Additionally, a few readers were disappointed with the lack of detailed, step-by-step instructions, feeling that the book leaned heavily towards promoting the authors’ course.
Despite these drawbacks, the book has received positive feedback for its ability to empower readers with a new perspective on mortgage repayment. Readers have reported making significant financial improvements based on the book’s insights, and many have found the information life-changing.
In conclusion, Replace Your Mortgage offers a thought-provoking approach to mortgage repayment, presenting a compelling case for using a HELOC to pay off a home in a fraction of the time. While the promotional tone and lack of detailed instructions may be drawbacks for some, the book’s potential to revolutionize personal finance management cannot be overlooked.