SayLending.com

smart lending guides for decision making

Comprehensive Lending Guide Bookmark Site


— Slide 10: The BLOC is a Better Financing Option —
You can use your BLOC to finance any need

What We Have Learned

As demonstrated in the previous illustration, you paid off the car within 1 year. All further payments from your child is now excess income. You will be earning the interest instead of the bank.

Of course, this is a simple illustration. Factors may lesson the amount of discretionary income you may have from month-to-month.
What has been demonstrated is the power of the BLOC program.

You could use the BLOC to finance your child's education, put a down payment on car for college, renovate your existing home once they leave the house, start a family business, and finance other family needs.

Where to Next

  • Next Step:
    view the 2 options to determine how best to pay for college: go to college funding options

  • Following Step:
    use this 10-step success plan for implementing and managng your BLOC: view 10-step success plan

  • Last Step:
    see how the BLOC can be used to payoff your mortgage: view mortgage payoff plan


    Important Note:
    Never Let Your BLOC Move Into Negative Territory

    Your BLOC should not drop below a zero balance. This is money that you are giving away to the banks. You should use your BLOC to payoff your mortgage whenever your BLOC balance reaches zero

Home Equity Application

BANK EQUITY for Student Aid