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I think that any HELOC that is a 1st Trust Deed has the qualities that are
being discussed here. I am not certain of that, but any HELOC 1st that takes
your paycheck will provide the features and qualities we are talking about.
If you make $5000 per month and have a mortgage payment of $2000 plus debt
service of $1000, then your paycheck covers the mortgage and the debt, and
your utilities and food costs (perhaps another $1000), and pours any excess
dollars into ther mortgage principle (the remaining $1000), then you are
bound to repay the entire principle way (that's WAY) ahead of schedule. And,
because your house is financed with a HELOC, you can buy pretty much
anything that you would refi to buy, without the hastle of acutally going
through a refi.
You can use a HELOC 1st to unlock the equity in your home.
Chase has a HELOC 1st ...
There are others, but6 since I am not with a broker any longer, I cannot
recall the lenders that offer such programs.
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Re: Marriage of Checking/Savings and Mortgage?
