Truly, there is no catch at all. The strategies we teach and the tools we use are simply that much more efficient. Once you understand the way a mortgage is designed (via something called amortization), you realize that you are paying primarily interest on your monthly payment for the first 10-15 years of the life of the loan. This is amplified by the fact that most homeowners in the US stay in their homes for about 7-10 years on average. So the problem of mortgage payments that consist primarily of interest gets restarted every time we get a new loan and since we don’t stay in them all that long, we don’t make much progress on the actual balance. So then, we end up in an endless debt cycle unless we earn an increase in income, win the lottery, receive an inheritance, or have the budgetary discipline to put extra into our monthly payment to pay the loan down more quickly. This often makes people ask the question about how paying extra on the mortgage compares to the strategies we teach. See question #4 in this list for an explanation.

Bottom line, banks and mortgage companies like to make money off you. You probably aren’t surprised by this and every business has the right to make money. But not only will you be paying significantly less interest with the strategies we teach but you’ll also be paying significantly lower closing costs. In many cases, the closing costs are anywhere from $0 to the cost of an appraisal.

Absolutely! Even though banks and mortgage companies aren’t telling people about this option, more and more people are putting the strategies we are teaching into practice. In fact, the wealthy have been doing a form of this for decades and businesses use the same cash-flow concepts we teach every day. In the business world, it’s called offset accounting and for the wealthy, it’s called using a line of credit. We’re just taking a page from their book and applying it to our personal lives at our scale.

99% of the time it is. For the 1% of the time, it is not, you’d have to increase your monthly payment by a very large amount to come anywhere close. The problem with both of those options is that you actually lose access to that money once you’ve made the payment. If you have an emergency, you’d either have a difficult time gaining access to those funds (you’d have to sell your home) or it would be expensive (via a cash-out refinance of your mortgage).

No. If you choose you do not want to continue in the process, you can always go get a new mortgage. Mortgage companies are not going to turn down an opportunity to keep you in debt once again. As I mentioned previously, they are happy to make money off you.

A Home Equity Line of Credit (aka HELOC) in 1st position (aka 1st lien position). Most people have heard of a HELOC in 2nd position that is typically used for things like home renovations, college expenses, or vehicle purchases. But using a HELOC in 1st position is likely something you’ve never heard of before now. That’s typically only because you haven’t been told about it by the people you’d expect to hear it from - your mortgage loan officer, your banker, and your financial advisor. By the way, we have folks from each of these professions as clients! That should encourage you! Your home is still the collateral for the HELOC just like it is on your mortgage. In fact, what we are talking about here is a basic refinance from your mortgage to a 1st lien HELOC. Talking to banks and mortgage companies about this option can be quite challenging. The reason is that this product doesn’t make them much money in the short nor the long term. Plus most of their loan officers do not receive training on this product and certainly not on the strategies we teach at BreakThru Finance.

If you consistently spend more than you earn and have not yet learned how to use self-control when you have access to large sums of funds, we are not a good fit for you. Depending on your situation, it can certainly fail if you don’t spend less than you bring home over the course of a year. If you are the kind of person who consistently maxes out your credit cards and pays interest on them, you likely are not a good client for us. That would not be good for our business and not good for your financial wellbeing.

The primary tool used (as mentioned in other questions is a HELOC. Each bank will have its own requirements for credit scores needed in order to qualify. For most banks, if your credit score is above 680, you could potentially qualify. However, credit score is only one of many factors that go into determining your ability to qualify and BreakThru Finance has no influence or input on qualifications for loans of any type.

As someone who is self-employed, this gets very personal for me. Simply put, this strategy fits the income irregularities of a self-employed person incredibly well. The reason for this is that you have so much more flexibility in how you approach this loan. We have even had clients who have lost their job shortly after starting the strategy and since they were able to use their HELOC to bridge the gap in their income, they didn’t feel the same level of pressure that they would have if they would have had a mortgage. There were no missed payments and once they gained employment once again, they started making progress on paying down their loan exceeding quickly. That being said, qualifying for the HELOC can be a challenge at times for self-employed folks. If you write off all your expenses and end up having very little reportable/taxable income each year, you may have difficulties obtaining the HELOC because most banks that provide these HELOCs have more traditional qualifying requirements. If you are self-employed, let’s definitely chat before you move forward with us so that we can be sure to get a clearer picture of your finances to see if you could possibly qualify. Although we don’t provide the HELOC, we have a good understanding of what they will be likely looking for.

As of 2021, our average projected savings compared to the mortgage is around $120,000 and the average length of projected time saved is around 20 years.

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Click here to see the steps we take with you from our initial Discovery Call to the point that you begin implementing the process. To get the process started for yourself, click here to schedule your FREE 30-Minute Discovery Call!

No. We show you how to use a different debt tool (i.e. HELOC) that is much more efficient when combined with the cash flow strategy you will learn as a member.

No debt is without risk - including HELOCs, mortgages, car loans, private loans, etc. Just ask someone who has gone through the foreclosure process, had a vehicle get repoed, or not paid their escrow on time. We are not SO focused on selling you the value of membership that we will try to put the ‘square peg into the round hole’. If the strategies we teach won’t save you time or money, that’s ok and we’ll tell you. No harm no foul. But we’ll also tell you what you’d need to do in order for them to work for you. For our members, the strategies we teach actually reduce their risk as it pertains to debt and cash flow. This is due to the inherent flexibility of the recommended tools we teach you how to use. Believe it or not, not everyone is a good fit for membership. That may sound like a bad business principle but we think finding the right fit is so vitally important that we are willing to turn people away if it’s what is best.

The basic qualifications are pretty simple: You likely are a fit for membership if you spend less than you bring home and own a portion of your home. Generally speaking, our clients own at least 20% of their home, spend less than they bring home, and are open to an approach toward their debt that hasn’t been explained to them prior to talking to us. Once you learn how banks and mortgage companies make money and keep their customers in an endless debt cycle, you often start to question how much trust you should give these institutions. They aren’t all bad (and neither are those who work for them) but it really shouldn’t be about them. It should be about YOU and what is best for YOU!

Our members receive access to a series of training videos, one-on-one coaching, tools to run your own scenarios as many times as you’d want, connection to the right people/banks, a bank interview questionnaire, and a community of like-minded people who are several steps ahead of you in implementing these strategies that you can connect with. You definitely could attempt to do this on your own. The problem with doing that is that you may end up using a less than favorable set of tools with a less than favorable institution and you’d have nowhere to turn for help. And then at that point, it may be difficult for us to help you get out of that situation.