Velocity Banking - The Truth about Paying off Your Mortgage Faster

0:00 Introduction
1:50 The sales pitch from all the guru's out there
3:11 Clips from the original video
7:20 Breaking down the example that is often used to sell velocity banking
21:27 What I think is the best way to pay your mortgage faster

#velocitybanking #heloc #schoolofpersonalfinance #richmccormack

Velocity Banking and paying off your mortgage faster - There are so many channels out there trying to sell you on the velocity banking concept and convincing you that they can teach you and coach you to pay off all your debt in 5-7 years. After running the numbers I can say with certainty that is it just not true.

Using a HELOC can help pay off your mortgage faster, but there are a lot of variables and it requires financial education.

Do not use a credit card at 21% interest to pay chunks at your mortgage.

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To Becoming Great with Money,
Rich McCormack, CFP

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Видео Velocity Banking - The Truth about Paying off Your Mortgage Faster канала School of Personal Finance