The man was clearly excited about the way things are going with his customized software, and states that he will paying off his mortgage in a little over 5 years. He states that it is simple to use and when asked to explain how it works he said, "It is easier to do than it is to explain. It just works."



The software he is using is a new way of managing your money. You "merge" your typical checking account with a Home Equity Line Of Credit, or heloc as they are called in the banking world. This heloc then drives the proprietary software which instructs you as to when and how much money to apply to your first mortgage. Rapid paydown occurs at various times based on your specific financial rhythm.

Mortgages charge you compounded interest based on the balance at month's end. You pay mostly interest and very little principle for many years at the beginning of the loan term, resulting in huge gains for the lender. So, if they are winning big by you paying more than double for your home, that means you are losing.

A heloc has an "open ended" interest stucture which is very different than a mortgage. Helocs can only charge you interest on the average daily balance in the account. You can effect the average daily balance in a substantial way by depositing your income into your heloc. You may be just beginning to understand how this new account can create financial leverage. As your income cancels interest in your heloc, it becomes possible to borrow money from the credit line and pay very little interest on it. When this money is applied to the principle on the mortgage, amazing things begin to happen.

The software knows exactly when and exactly how much money to apply to the debt. You don't have to adjust your budget or lifestyle either. You don't refinance or compromise your debt. You pay it off. It's not magic, it's math. It is math that most people don't have the time or talent to do. All you do is update the program with your deposits and expenses, and it does all the rest.

This citizen of Vegas was thrilled with the idea of being debt free in about 5 years instead of twenty or thirty. Both the mortgage and the heloc will have zero balances. Who wouldn't be happy with that?

At the end of the news segment, the reporter claimed that indeed the program was for real and that it DID work, and in fact three of them in the studio have been on the software since February and were very happy with the results.

The company that developed the software is trying to get authorization from NBC to place the news spot on their websites, but for the time being the spot can be shared by independent agents via email.

When contacted, a Branch Manager with the company said that thousands of Americans are now using the software and paying off their mortgages and other debts in ? to 1/3 the time as compared to the traditional payoff methods. "It's been a Godsend for me, and I have had clients break down and cry when they see what we can do for them. They can finally see financial freedom within their grasp."

KVBC News 3 in Las Vegas is now working on a special report where they will go in depth to this rapidly growing area of mortgage accelerators. Stay tuned.