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Fast-Track Mortgage Freedom Now - Bill Westrom #6252 · Financial Survival Network

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  Speaker 1: If you look at the way that debt works, whether
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  Speaker 1: it be credit cards, mortgages, whatever, You got the terms
• 0:05
  Speaker 1: of repayment set by the lender, and like you said,
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  Speaker 1: a thirty year mortgage. You know that's just the bare minimum.
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  Speaker 1: That's what you're signed up for, but the bank's not
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  Speaker 1: telling you it's going to take you thirty years.
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  Speaker 2: You were listening to Carrie Lutz's Financial Survival Network, where
• 0:21
  Speaker 2: you get valuable information you just can't find anywhere else
• 0:25
  Speaker 2: to thrive in today's trying times. You need the Financial
• 0:29
  Speaker 2: Survival Network now more than ever. Go to Financial Survivalnetwork
• 0:34
  Speaker 2: dot com and get your free newsletter and gift. Financial
• 0:38
  Speaker 2: Survival Network now more than ever.
• 0:45
  Speaker 3: And welcome. You are listening to and watching the Financial
• 0:48
  Speaker 3: Survival Network.
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  Speaker 4: I'm your host, Carrie Lutz.
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  Speaker 3: Well, I first came across this person about ten years ago.
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  Speaker 3: Bill Westrom has the unique ability to enable you to
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  Speaker 3: pay off your mortgage in five to seven years, without
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  Speaker 3: a lot of pain, without digging into your savings, without
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  Speaker 3: borrowing the money from somebody else, Peter to pay Paul.
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  Speaker 3: He's been doing it for nineteen years now, and well,
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  Speaker 3: it's it's quite an interesting story. You find him at
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  Speaker 3: truthinequity dot com. And if you've got a question for
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  Speaker 3: Bill or myself, shoot me an email kl at Carrie
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  Speaker 3: LUTs dot com. Bill, great to connect with you again, So.
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  Speaker 4: Thank you, Thank you, Carry it's pleasure to be back.
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  Speaker 3: So your system here. How can you pay off your
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  Speaker 3: mortgage in five to seven years when you know the
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  Speaker 3: mortgage is designed to be paid off in fifteen or
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  Speaker 3: thirty in old likelihood you'll probably sell the house before
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  Speaker 3: you actually pay off the mortgage.
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  Speaker 4: Well, it's all a matter of leverage, Palp.
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  Speaker 1: And if you look at the way that debt works,
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  Speaker 1: whether it be credit cards, mortgages, whatever, you got the
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  Speaker 1: terms of repayment set by the lender. And like you said,
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  Speaker 1: a thirty year mortgage, you know that's just the bare minimum.
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  Speaker 1: That's what you signed up for. But the bank's not
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  Speaker 1: telling you it's going to take you thirty years. All
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  Speaker 1: you got to do is, you know, if you want
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  Speaker 1: to make it, pay it off in ten years and
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  Speaker 1: make a ten year payment. And so it's again it's
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  Speaker 1: the terms of repayment that are killing everybody versus the
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  Speaker 1: amount they owe or the interest rate.
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  Speaker 4: And that's what my.
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  Speaker 1: Program is all about, is just to leverage more of
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  Speaker 1: your income against that debt and through the process that
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  Speaker 1: debt melts away like an ice cube under a hair dryer.
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  Speaker 1: But it is just a matter of leverage. You just
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  Speaker 1: leverage more income against the debt.
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  Speaker 4: So how do you do it? And it sounds good?
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  Speaker 4: But how do you do it? How is it done?
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  Speaker 4: What's the magic behind? How's it done?
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  Speaker 1: The magic behind it is a line of credit, a
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  Speaker 1: revolving line of credit. And then whether it be a
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  Speaker 1: home quit you line of credit unsecured or even on
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  Speaker 1: a credit card. And the reason that it works that
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  Speaker 1: way and it's so special is because you got the
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  Speaker 1: evolving door, which means you can get everything you've got
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  Speaker 1: income wise, paycheck wise to the line of credit as
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  Speaker 1: a payment, but you don't lose liquidity to go pay
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  Speaker 1: your bills. And as I describe it to people, the
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  Speaker 1: line of credit basically becomes a vault. You still receive
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  Speaker 1: income into checking account, you still pay bills from a
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  Speaker 1: checking account, but in the middle of that you deposit
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  Speaker 1: transfer your money in toto that line of credit. Because
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  Speaker 1: your paycheck acts like a big payment. So if you
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  Speaker 1: got a.
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  Speaker 3: Five hundred dollars payment regularly or a five thousand dollars
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  Speaker 3: pay check.
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  Speaker 4: That five thousand dollars paycheck.
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  Speaker 1: Is going to push that balance is to its lowest level,
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  Speaker 1: which means you're paying the lowest amount of interest because
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  Speaker 1: you got that low balance. And so that's really how
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  Speaker 1: it works. Leverage your income through that line of credit
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  Speaker 1: to save interest and accelerate the repayment.
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  Speaker 4: It's a very simple concept. It's a very simple process. Really.
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  Speaker 1: What I can get paid to do is untangle people
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  Speaker 1: from the conventional world getting that income from whatever checking
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  Speaker 1: account it's received, getting it into the line of credit.
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  Speaker 1: The most special thing I do though, as far as
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  Speaker 1: the acceleration process and saving interest, is I help people
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  Speaker 1: establish a bill pay day. So if you take all
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  Speaker 1: those transactions, all your bills for the month, believe it
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  Speaker 1: or not, you can get it and moved to one day.
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  Speaker 1: Now one hundred percent of your vendors and merchants and
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  Speaker 1: all that they may not play ball with us, so
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  Speaker 1: we can deal with those outliers. But that's probably the
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  Speaker 1: most important thing I do do is establish a bill
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  Speaker 1: pay day, so the income can save interest for twenty
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  Speaker 1: nine days.
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  Speaker 4: You pay your bills on one day m hm, okay,
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  Speaker 4: So to chief.
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  Speaker 1: That's an examp maximum efficiency in my program credit a linement.
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  Speaker 4: Give us an example how this work?
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  Speaker 3: Right?
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  Speaker 1: All right, now, I'm going to use a number, say
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  Speaker 1: twenty thousand dollars. If we had a twenty thousand dollars
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  Speaker 1: debt in a line of credit, and if you're in,
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  Speaker 1: I'm set in, you're checking account, you're going to pay
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  Speaker 1: interest on twenty grand.
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  Speaker 4: Now trance.
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  Speaker 1: So let's assume we got a ten thousand dollars monthly income.
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  Speaker 1: Now when you push that into the line of credit,
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  Speaker 1: it's going to be treated like a payment. So that
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  Speaker 1: twenty grand minus the ten thousand income is going to
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  Speaker 1: drop the balance down to ten grand.
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  Speaker 4: Does that make sense right? So is it treated like
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  Speaker 4: a payment?
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  Speaker 3: So you took twenty thousand off your credit line and
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  Speaker 3: you paid down your mortgage with that twenty It could be.
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  Speaker 1: The mortgage, it could be a vehicle, could be credit cards,
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  Speaker 1: loan debt, the line of credit, or I I don't
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  Speaker 1: care where the money goes. I mean, I've got people
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  Speaker 1: using this to take vacations, to buy cars, to buy
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  Speaker 1: real estate. So whatever you want to use the money for,
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  Speaker 1: you use the money. But now we've got a twenty
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  Speaker 1: thousand dollars ballance, and that's what they're going to use.
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  Speaker 1: That's the number they're going to use. The charge interest.
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  Speaker 1: Regardless of the rate ten to twenty percent, you're still
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  Speaker 1: being charged. Now when that paycheck sits in the checking account,
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  Speaker 1: the bank gets access to that money, and that's how
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  Speaker 1: they make their money. They go take our deposits and
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  Speaker 1: leverage them into some asset whatever.
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  Speaker 4: That being a loan is an asset to the bank.
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  Speaker 1: That's what they're that's why they lend money to create
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  Speaker 1: assets I either promise or not, and they go make
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  Speaker 1: money with it. Well, under credit line banking, you're taking
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  Speaker 1: the money out of their hands, leveraging it for your
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  Speaker 1: own financial gain in the form of interest savings. And
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  Speaker 1: it's all your money. The bank can't go in there
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  Speaker 1: and get it. And so again it's just leverage. It's
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  Speaker 1: the best word I can use describe what's happening in
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  Speaker 1: this process is just leverage your money against that balance.
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  Speaker 1: It's trying to steal money out of your pocket in
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  Speaker 1: the form of interest, all right, so to me. And
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  Speaker 1: so once you have your money in there, it sits there. Yeah,
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  Speaker 1: bill payday comes along and you pull your expenses out
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  Speaker 1: of it. Now a lot of people think, oh, I'm
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  Speaker 1: borrowing money to pay my bills because it's coming out
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  Speaker 1: of a credit instrument. But you're not borrowing money to
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  Speaker 1: pay your bills. You're going to get your income because
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  Speaker 1: that's where you put it. It's been residing in that
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  Speaker 1: line of credit, saving you interest. So naturally, with it
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  Speaker 1: being credit, when you pull your expenses out, that balance
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  Speaker 1: is going to come up, which is okay, let's expect it.
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  Speaker 1: And if we reconcile at the end of the month,
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  Speaker 1: you have an opening balance and an ending balance unless
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  Speaker 1: for evample, we pulled eight grand out for our expenses.
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  Speaker 1: And so if we look at the numbers twenty thousand
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  Speaker 1: to ten, if we put our income into it, ten
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  Speaker 1: turns to eighteen after we make our bill payments, and
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  Speaker 1: so we've got twenty thousand at the beginning of the
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  Speaker 1: month eighteen at the end of the month. There's a
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  Speaker 1: two thousand dollars difference. Where did that come from? Well,
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  Speaker 1: we had ten thousand in income minus eight thousand in expenses.
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  Speaker 1: That left us the dollar surplus for the month, and
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  Speaker 1: that's the payment for the month. We can see that
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  Speaker 1: I twenty went to eighteen ten thousand minus eight, there's
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  Speaker 1: two thousand right across the board. And so if that
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  Speaker 1: month we paid back two thousand. Now, if you can
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  Speaker 1: average two thousand a month, then it's pretty easily to
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  Speaker 1: calculate how quickly you could pay off. You just take
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  Speaker 1: the balance twenty grand divided by an average two thousand
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  Speaker 1: dollars surplus, and you've got twenty grand paid off in
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  Speaker 1: ten months, which is a beautiful thing. This happens every
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  Speaker 1: month every year with all the people I've been working with.
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  Speaker 1: And so at the end of that ten months, you
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  Speaker 1: got the twenty grand paid off, and the twenty grand
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  Speaker 1: is sitting there right in your line of credit. You
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  Speaker 1: get to go recycle and reuse that line of credit
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  Speaker 1: for as long as you want to. A line of
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  Speaker 1: credit actually is an endless supply of working capital when
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  Speaker 1: you run credit line banking, because you're continually borrowing and
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  Speaker 1: paying back.
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  Speaker 4: So I want to listen to do some thing I've
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  Speaker 4: ever seen.
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  Speaker 3: Do I want to get a cash advance for my
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  Speaker 3: bank here or because then they charge you no interest
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  Speaker 3: safe for a year, but then you're paying a three
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  Speaker 3: percent or four percent service George for the advance.
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  Speaker 1: YEP, I don't call that interest, call it anything you want, right,
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  Speaker 1: whether it's taxes, pair of fee, these interest it's all
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  Speaker 1: just costs. Yeah, bottom line, no now zero percent thing. Yeah,
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  Speaker 1: it looks good on paper. These companies are really good
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  Speaker 1: at getting people focused on an interest rate. But the
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  Speaker 1: interest rate doesn't cost you the money. The balance does.
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  Speaker 1: And that's one thing that people need to understand because
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  Speaker 1: the example I just gave you, if we take it
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  Speaker 1: from twenty to ten, we cut the balance in half,
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  Speaker 1: which means we cut the interest in half. We didn't
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  Speaker 1: have to chase the interest rate to lower interest. We
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  Speaker 1: chase the balance. And when you focus and chase the balance,
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  Speaker 1: things just melt away faster than you ever thought. And
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  Speaker 1: when it comes to interest and all that, I get
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  Speaker 1: my people, my students, to not worry about it. You know,
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  Speaker 1: if you don't want to pay interest, don't borrow money.
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  Speaker 1: It's just like taxes. If you don't want to pay taxes,
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  Speaker 1: don't earn any money. But that's not reality in our
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  Speaker 1: society anymore. I mean, debt is a constant. It's not
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  Speaker 1: going away. And that's why I'm so adamant about what
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  Speaker 1: I do, because if you look at the government, we
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  Speaker 1: owe thirty six trillion. But the government's got tariffs and taxes.
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  Speaker 1: They can sell guns and Ammo to get rid of
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  Speaker 1: that debt. And if you slide over the consumer side,
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  Speaker 1: we owe eighteen trillion. But when it comes to getting
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  Speaker 1: rid of that debt, we have no options except to
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  Speaker 1: earn more, to spend less, chase interest rates, and play
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  Speaker 1: this traditional game that the traditional bankers and lenders and
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  Speaker 1: you know, the traditional model of capitalism in this country.
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  Speaker 1: I mean, that's the end result is eighteen trillion to
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  Speaker 1: the public, but we don't have a relief and our
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  Speaker 1: debts grown by approximately eight trillion since twenty twelve after
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  Speaker 1: the bubble popped. Interest rates have gone up continually over
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  Speaker 1: the last ten twelve years, but it didn't stop people
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  Speaker 1: from borrowing money.
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  Speaker 4: People are going to if.
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  Speaker 1: They need it, they're going to go borrow the money,
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  Speaker 1: and they're going to go buy it. And why I'm
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  Speaker 1: doing what I'm doing is because we need a better
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  Speaker 1: model of banking and borrowing. Otherwise that eighteen trillion is
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  Speaker 1: going to become twenty twenty five thirty. There's no hope
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  Speaker 1: for us or our children in the next generation if
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  Speaker 1: we don't get a better handle on our own personal.
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  Speaker 4: Debt, because it just can't be. It's a cradle to
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  Speaker 4: grave such.
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  Speaker 3: So I guess at nineteen years lation right now, I
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  Speaker 3: guess it's nine injurious for the country as a whole. Sure,
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  Speaker 3: So nineteen years of doing this bill tell us a
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  Speaker 3: couple of success stories.
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  Speaker 4: Well I got a little a lot of success story
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  Speaker 4: as well.
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  Speaker 1: Well, it's just people paying off debt, you know, I've had.
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  Speaker 1: One of my greatest stories was a young couple. They
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  Speaker 1: were only twenty eight years old when they joined me,
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  Speaker 1: and they had over two hundred grand and credit card
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  Speaker 1: debt and car payments, et cetera. And they got rid
• 12:15
  Speaker 1: of all their credit or all their student loan debt
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  Speaker 1: excuse me, in matter five years. And they paid their
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  Speaker 1: mortgage off three years after that. So by the time
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  Speaker 1: they were not even forty, they were totally one hundred
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  Speaker 1: percent debt free. One recent gal that I'm working with,
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  Speaker 1: the scro seventy seven, she owns twenty twenty two pieces
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  Speaker 1: of real estate, with three of them with mortgages. There's
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  Speaker 1: a woman that you wouldn't think would need my help.
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  Speaker 1: She didn't need my help, but she did, yeah, need
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  Speaker 1: somebody to teach her how to unload this stuff, asked,
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  Speaker 1: And one thing she just recently did, she didn't want
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  Speaker 1: to tell me.
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  Speaker 4: She pulled forty.
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  Speaker 1: Grand out of her line of credit and she bought
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  Speaker 1: a four plex. Yeah, and so she's got another piece
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  Speaker 1: of real estate. And again the forty grand that you
• 13:03
  Speaker 1: borrowed out of the line of credit. With her cash flow,
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  Speaker 1: it'll be paid off within the first first year. And
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  Speaker 1: then she'll just keep doing the same run the same
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  Speaker 1: strategy credit line banking to pay off the rest of it.
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  Speaker 1: So there's just a couple. I could spend an hour
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  Speaker 1: with you with all sorts of fun stuff.
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  Speaker 4: All right.
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  Speaker 1: But I do get people too that come back three
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  Speaker 1: to five years later, you know, they said, Hey, I
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  Speaker 1: heard about this.
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  Speaker 4: I wish I would have done it sooner.
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  Speaker 3: I'm sure, I'm sure, all right, So Bill, just tell
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  Speaker 3: us how we find you on the web, how we
• 13:30
  Speaker 3: connect with you, and to find out more about credit
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  Speaker 3: line banking.
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  Speaker 1: Okay, go to truth inequity dot com and you'll find
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  Speaker 1: the contact link up in the upper right hand corner.
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  Speaker 1: You'll find my cell number, email address, and link to
• 13:44
  Speaker 1: my calendar. If you want to take my number down now,
• 13:47
  Speaker 1: I'll take any and every phone call three five two
• 13:50
  Speaker 1: two three two one seven five one, and it all
• 13:54
  Speaker 1: starts with a conversation just to get to know each other.
• 13:57
  Speaker 1: There's no real sales process here. It's just a matter
• 14:01
  Speaker 1: of getting to know each other, educating you on how
• 14:03
  Speaker 1: this works, and.
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  Speaker 4: Seeing if you're a good candidate.
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  Speaker 3: All right, sounds fascinating and we definitely want to find
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  Speaker 3: out more about it. Hey, Bill, appreciate you coming on.
• 14:16
  Speaker 3: If you've got a question for Bill or myself, shoot
• 14:18
  Speaker 3: me an email kl at Carrie LUTs dot com. You'll
• 14:21
  Speaker 3: find a link in the show notes this interview on
• 14:23
  Speaker 3: Financial Survival Network. It'll take you right to Bill's site
• 14:28
  Speaker 3: treuthonequity dot com.
• 14:29
  Speaker 4: And Bill, we'll.
• 14:31
  Speaker 3: Talk to you again soon. Thanks for coming by.
• 14:33
  Speaker 4: Thanks Gerry appreciate it.
• 14:34
  Speaker 2: Thanks for listening to Carrie. Let's this Financial Survival Network
• 14:38
  Speaker 2: your solution to today's trying times. For the latest, go
• 14:42
  Speaker 2: to Financial Survivalnetwork dot com. Financial Survival Network now more
• 14:48
  Speaker 2: than ever,