I ended up finding over 10 companies selling a product similar to the Speed Equity and the United First product. I have listed what I have found at http://mortgageaccelerator101.com They range in price from $200 to $3500.

I wonder if there will ever come a time when a big company like Google will offer the software as a free service? If you here of anyone let me know.

Well check out the site. I also listed my explanation as to how the programs work.

I went to a meetup.com speed networking meeting one day. I found myself in the middle of 4 of 20 people selling this same product for $3500. I am not sure why but I spent 45 minutes with one person discussing the product and concluded that is was primarily debt consolidation that can also be accomplished with a refi or a Heloc. The twist is that instead of putting money in your savings you pay down your heloc and save some interest.

Seriously these guys would not leave me alone mostly because they figured out I operate a “Real Estate Hedge Fund ** ” Our portfolio is small compared to a regular hedge fund but we still have about $15Milloin in assets we manage.

Anyhow, as a licensed lender and experienced investor beware of all the new people pedaling these types of products, i am sure there exists free tools that accomplish the same thing.

I also keep a daily blog detailing my investments at http://blog.dometri.com

Take care
Daniel

This is of course, courter-intuitive on the surface, but is true nevertheless.

I see many people in their late 40’s-50’s in my office, who are well on their way to this type of retirement. You should see the expressions on their faces as I ask them how that plan has worked out for their parents and grandparents. I’ve actually seen the blood drain from their faces a couple times.

It’s a recipe not for a magnificent and abundant retirement, but for a self-imposed life sentence.

If you would, I invite you to listen privately to a short interview I gave a couple years ago on this subject. As you said so well, different folks have different agendas and goals. I’d love to know what you think of a free and clear home at retirement once you’ve listened to the interview.

Thanks for the post Christoff. Here’s the link.

http://www.bawldguy.com/podcast/grandpa_economics.mp3

Gary, yes $3,500 is a lot of money for information and access to a web based software and this reason was my inspiration to blog about this topic.

Shailesh, lets get together on this. I would like to know your opinion on Accelerated Mortgage Pay-off versus “Missed Fortune”.
Rita, I believe that Harj Gill will offer an Affiliate Program for the Speedequity® system.

Chris, here is a link (http://216.10.77.146/1-Flash/Promo.html) to a presentation which illustrates the concept in detail. The Heloc in essence is your savings account, but it has to be used wisely. It does not make a difference having money in a savings or checking account making 1 to 5% versus having the money available in a Heloc as available credit, while having a smaller first mortgage balance. Having a line of credit is actually the biggest temptation for most consumers to spend money. So if one considers paying off the first mortgage with this method then it will only work by sticking to the plan. Most people have no plan, and even if they did it is hard for most of us to precisely “stick” to the plan. Personally, I think Harj Gill is doing a great service to the public for providing good education for a small cost. His web based software comes free for the first year when buying the book. You can renew your subscription to the software which is optional after the first year is over. $2,08 per month is actually not a bad deal for a system which keeps track of your balances and forecasts different scenarios based on changing variables.

AJ, this is another reason why I wrote this post. This “fascinating idea” is not new and it is certainly not the “magic bullet”. Of course the thought of owning your home free and clear is exciting to most homeowners. I caution everybody to take a good look at all options available and see if accelerated mortgage pay-off is beneficial in your own set of financial circumstances.

Mark, it is o.k. to be skeptical. May be I am reading too far in between the lines, however I am sensing a little cynicism in your comment and it appears that you haven’t taken a closer look at SpeedEquity®.. Harj Gill clearly discloses what his Speedequity® System does and what it does not. When looking at your video presentation, in comparison, Speedequity® offers a lot of similar things you do (webinars, self-help educational products). In comparison to the other guys who charge $3,500.00 for the same thing, Harj’s system is indeed too good to be true – but it is not. Harj is helping to empower everybody with knowledge, and educates people about banking principles and arbitrage. He provides the education and tools, however it is up to each individual on how to apply them – needless to say that the proverbial nail-gun is a great tool to frame a beautiful house, at the same time it is possible that you can shoot yourself in the finger with it. It just depends on how you use the nail-gun.