What Is a First-Lien HELOC? скачать в хорошем качестве

What Is a First-Lien HELOC?

What is a first-lien HELOC and how is it used? ❓Ask me a 30-second question at https://morrisinvest.com/clayton 📞 Ready to buy your first fully done for you rental property? Book a free call with us: https://morrisinvest.com 📺 Watch Next: How to Create Your Personalized Path to Financial Freedom: https://bit.ly/392kAsB 🏠 What's Your Freedom Number? Download our free PDF to help you determine how many rental properties you would need to achieve financial freedom: https://morrisinvest.com/freedom 💵 Ready to get your finances in order? Download the FREE 90-Day Financial Empowerment Bootcamp: https://morrisinvest.com/bootcamp 🎓 Want to learn more about creating your individualized plan to wealth with a proven system? Join us in Financial Freedom Academy: https://financialfreedomacademy.com 👨🏻‍💻 Sign Up for My Webinar: https://morrisinvest.com/webinar How to Pay Off Your Mortgage in 5 Years: https://amzn.to/2OrjTSD ----------------- How a First-Lien HELOC Is Used A home equity line of credit is often referred to as a second mortgage, because it is a second loan based on the equity of your home. You can even use a HELOC to pay off your mortgage, like we wrote about in our book. Once your mortgage is paid off, the HELOC would be considered first position (instead of standing as the second mortgage). To my knowledge, you cannot take out a first-lien HELOC without first having a traditional mortgage. ----------------- DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.