| Type: |
with a 5-10 year draw period — use the line as your personal banker to manage your money
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| How: |
We Call it the Banker Home Equity Line of Credit (BLOC)
You will use the BLOC as your personal money account to manage all income and expenses.
You will deposit into the account:
· all income payments
· all bonuses
· all capital gains not reinvested
· all cash payments
· all other income
· your mortgage payment
· your insurance
· your credit card payments
· your living expenses
· all other expenses
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| Use: |
The BLOC will Maximize Your Money Position
Your BLOC will take your discretionary income (total income minus expenses) and use the proceeds to payoff all debts, pay down your mortgage, help finance key projects, and pay for other needed events at minimum interest cost.
You will never make a payment to your BLOC since your income deposits will be your payment. And since HELOCs are based on simply interest, these deposits will force adjustments to your equity line balance ensuring you minimal interest charges.
we have a complete demonstration with illustrations on how the BLOC can work for you |
| Why: |
View our 10-Step Plan for Banking Success
Our quick 10-Step plan can help you maximize the BLOC benefits. Our step-plans include expense management, tips to lower your bills, guides to increase discretionary income, and other helpful hints on using the BLOC.
view our 10-step plan |
Pros:
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BLOC Benefits
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open a line
of credit up to your approved
LTV level — calculate
how much you can borrow |
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deposit all your income into the BLOC. Your income will be your monthly payment. |
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pay all expenses from your BLOC. Use our step plan for expenses management. |
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advance funds from your
account as you need
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. when you need |
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use the BLOC to payoff debts, fund college, paydown your mortgage, plan retirement and more |
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pay
down the BLOC
with your discretionary income |
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deduct
interest charges from your
taxes if you qualify — view
your effective tax rate
savings |
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get competitive
adjustable rates as low
as the PRIME RATE — see
our rate page for information |
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view program demonstration |
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Apply
Now: no obligation, no registration |
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