You will use the BLOC as your personal money account to finance college and 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
Likewise, you will use your BLOC to pay:
· your mortgage payment · your insurance · your credit card payments · your living expenses · all other expenses
The BLOC will Maximize Your Money Position
Your BLOC will take your discretionary income (total income minus expenses) and use the proceeds to finance college, 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.
recommended product, term and use are listed
as illustrative purposes on how you might
use the equity in your home. Please note
that your circumstances may be different
and that the recommended product, term and
use may not fit your particular need.
YourEquity.com is not a lender. Therefore, we cannot quote rates or guarantee best terms. We refer applicants interested in getting a lending quote to Secure Rights, a licensed mortgage broker representing multiple home equity lenders.