The very premise of all mortgage acceleration programs is to save money. Many prospective customers ask if they can just implement a similar version of our system themselves, and save the money from purchasing the software.
The short answer is YES.
Mortgage acceleration is really fairly simple. It is the process of making extra payments towards your principal balance of your loan. Most mortgages are set-up so that you pay more interest early in the life of the loan, and more principal on the back-end. A common 30-year mortgage is primarily interest, with the last 9 years being used to pay down the true principal balance. Mortgage acceleration is the use of money management skills to pay more towards principal early in your mortgage, allowing you to pay less interest over the life of your loan. It's that simple.
While you can attempt to build a financial model to determine how much to pay from your HELOC and on which date to pay it, most people will fail at this. They will still see some benefit, but the reality is they could lose tens of thousands of dollars trying to save the small fee for the mortgage acceleration software.
