|HEAP is simple to set up and easy to use.
- A Home Equity Line of Credit is established
- Normal Cycle Paychecks are direct deposited into the HELOC
- A pre-determined amount is drawn from the HELOC and applied to the principal balance of your first mortgage.
- Deposits are immediately available for use
- Normal monthly bills and expenses are paid from the HELOC
- The unsused portion of your income reduces the balance of the HELOC
- The reduced balance results in reduced interest charges
- As soon as the HELOC balance is $0.00 the cycle can start over.