Are HELOCs Canceled? I JUST got home and I see multiple News headlines that say that Wells Fargo and JP Morgan are canceling ALL-NEW HELOC Applications. For those that don't know what a HELOC is... A HELOC stands for Home Equity Line of Credit. Does this mean that other banks are canceling HELOCs as well? I'll go ahead and break down the latest news about HELOCs getting canceled and what it means for the Accelerated Banking Strategy! (Velocity Banking, Mortgage Acceleration, or Debt Acceleration) (Using a HELOC to pay off your mortgage) How to Pay Off Your Mortgage in 5 -7 Years: https://www.youtube.com/watch?v=eGVn9iq1e6c 0:20 - Wells Fargo and JP Morgan No longer accepts new HELOC Applications 0:55 - This is only a temporary cancellation of any new HELOC Applications 1:09 - Wells Fargo and JP Morgan offer only a 2nd lien HELOC. There's also a 1st lien HELOC which his what we use for our strategy. 1:47 - Not all banks have stopped taking in new HELOC Applications. Other banks are still continuing to offer HELOCs 2:20 - What is a 1st lien HELOC? 4:16 - My prediction on the HELOCs for Wells Fargo and JP Morgan Here in our channel, we teach a strategy that involves using a 1st lien HELOC to pay off your mortgage which ultimately saves you MORE time and money on interest as you pay your mortgage off! A line of credit has different features and abilities that can be used to pay off your mortgage faster. But with the recent news of JP Morgan and Wells Fargo canceling new HELOC applications, this may bring new concerns to getting a HELOC and how harder it'll be! Be sure to stick around til the end for my thoughts and what's ACTUALLY happening within the context of getting a 1st lien position HELOC. 😃 Thanks for Subscribing & Liking our Video! The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom) 📧 Get Our 1:1 Coaching and Mentoring: https://thekwakbrothers.com/thekwakbrothers 💻 GET OUR FREE COURSES, FORUM, AND EVENTS: https://www.cashflowcolony.com ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 GET OUR FREE HELOC STRATEGY CALCULATOR & EBOOK: https://bit.ly/2WZUPpm 📋 SIGN UP FOR OUR FREE OWNER FINANCING COURSE: https://freeownerfinancingcourse.com 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 🔊 Our Podcast Channels: 📻First Deal Experience: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📻Landlording Automated: 🔹Spotify: https://open.spotify.com/show/1LTAeRg2ZAT1ATI1mdtWM0 🔹iTunes: https://podcasts.apple.com/us/podcast/landlording-automated-podcast/id1504548975 GET SOCIAL WITH US: 📣Facebook: https://www.facebook.com/thekwakbrothers/ 📣Instagram: https://www.instagram.com/thekwakbrothers/ 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #heloc #wellsfargo #JPmorgan ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.