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Julie, Thanks for all your

Submitted by FlatGreg on June 8, 2007 - 14:01.

Julie,

Thanks for all your work on this post - I find it really interesting. I'm unable to view the U first video on their site (currently at work), but I did find this:

http://youtube.com/watch?v=D_URQoEblKE

Also there seems to be a problem with the comparison done in your spreadsheet. You model the $3500 cost of "The Other Way" correctly, however you don't model the resulting benefit.

The calculation isn't simple, which is why I've been having so much trouble with it. It sounds like the U first system provides software that tells you when to transfer money from your HELOC to your mortgage such that you maintain the smallest possible revolving balance.

I don't think the software is worth $3500, however I can't figure out how to calculate exactly how much you'd be saving. The claims of paying off a mortgage in 8-10 years always comes from also making additional payments; I'm curious how much time is shaved off by making no additional payments and just by making your payments differently via the HELOC.

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