New Revolutionary Loan...I'm looking for LoopholesThis company came in to my office the other day soliciting a new loan program. Supposedly, you can take out a LOC on your home and somehow pay your bills like normal through the line of credit. Any money left over at the end of the month will be applied to the principle balance. Instead of making the same payment monthly for less time as more is applied to principle, the monthly payment goes down and you pay for the full period of time on the loan. Any ideas on how this is beneficial or detrimental? Thanks. June 13 2008 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.