Heloc's
I was talking with a friend the other day and she told me that she had just gotten involved with a new program that allows people to do a Heloc through this software program. She said that it would take a 30 year mortgage and reduce it to about 8 years. She didn't explain very well so I am still confused. Does anybody out there know of this program and how it works? If you can take out a Heloc based on the equity of your home, how can you reduce you mortgage from 30 years to 8 years? And does it really work? Is this something new or has it been around for awhile? Since most of my clients pay cash, I am not up to speed on all the different programs out there but I do have lots of friends that have 30 year mortgages. If this is something that really works, I need to learn about it because it will help many people. If anybody knows anything about this program I would love to hear about it.
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