If you are wondering how to - 1. Pay for your mortgage/student loan/car loan using a credit card? 2. What happened to the credit card interest? Or 3. Why not apply the $2K in cash directly towards the principal of the mortgage? Then watch my Q&A video for the answers: kzread.info/dash/bejne/qKusw7iwmtvfiso.html

@marthasmith6836

5 жыл бұрын

Hi Laura, I'm so excited to try this strategy but want to run a couple of things by you. I understand the income and other numbers in your video are examples, so, can someone with a take home income (input) of $3000, and an output of $2200, use this strategy? If so, since my mortgage/checking acct./ cc with $0 balance are at one bank, I should call them to see what options they offer for making mortgage payment with cc and 2 other bills that do not accept payments from cc. Any other tips?

@butterfly-pf8lj

5 жыл бұрын

Laura Pitko i can pay my mortgage with a credit card?

@MrChico809

5 жыл бұрын

@@butterfly-pf8lj I have not been able to, something about paying credit with credit the bank frowns upon. if you take out a line of credit against the home is the context of this video. Hope that helps!

@butterfly-pf8lj

5 жыл бұрын

DeezNaffs thanks

@deidrarichards5801

5 жыл бұрын

Exactly. Where is the 21% credit card interest every month. If that is taken into consideration, I don't see how the credit card balance can be paid off in 6 months.

Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market.

@fadhshf

4 ай бұрын

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

@LucasBenjamin-hv7sk

4 ай бұрын

in my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.

@lowcostfresh2266

4 ай бұрын

@@LucasBenjamin-hv7sk Could you kindly elaborate on the advisor's background and qualifications?

@LucasBenjamin-hv7sk

4 ай бұрын

I won't pretend to know everything, though. Her name is Vivian Carol Gioia but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.

I’ll save you 29 minutes: Pay double payments (make sure the 2nd one is to principal only). You’re welcome!

@AndySandyBe

3 жыл бұрын

Thank you. Fast and simple. Mortgage doesn't accept credit card payment

@MyOzempicJourney

3 жыл бұрын

that pays off a 30 year fixed mortgage in 11 years at 3.1% interest.

@splitrockrentals338

3 жыл бұрын

She paid off her mortgage from ads on this youtube video. She actually adds $2000 monthly acceleration to the $1200 payment, so almost 3X. So man false statements in this video.

@learnwithteachermarie7828

3 жыл бұрын

@@AndySandyBe No mortgage doesn't but you can pay your mortgage through the bank that allows credit card overdraft.

@superstar8312

3 жыл бұрын

thank you

You can pay this off by investing wisely, Starting early is the best way of getting ahead to build wealth. Most times, it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to focus.

@susanhaynes679

Жыл бұрын

The decision to invest is an acknowledgment that comes with certain risks. Not all investments will do well and some may lose money. However, without risk there would be no opportunity to potentially earn the higher returns that can help you grow your wealth.

@canary7361

Жыл бұрын

@@susanhaynes679 I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks.

@izagdlife

Жыл бұрын

I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more.

@macherie9554

Жыл бұрын

@@izagdlife That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.

@izagdlife

Жыл бұрын

@@macherie9554 You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe?

Getting a way to make income without having to leave home isn’t exactly as easy as you all think it is , talk is cheap and it’s sure easier said than done , I have my source , and I would rather stick to that, it pays well, even my stepdad quickly joined *Linux tech corps* before it’s too late

Wealth is not just about finance, but health and wellness is critical especially in our black community! No need to have stuff and money if you don't have your good health? Rick Ross finally understands this truth now! What does it profit a man/woman to gain the whole world if you don't have optimum health to enjoy it all! Let change the mindset about the diet & wealth in the black community so we can all go up together! Above all things... I wish that you be in good health and prosper even as your soul prospers! God bless you brothers! and remember to use *850 FINANCIAL ASSESSMENT* for your bad credit and negative credit marks and inquiries removal

@prissybaby5256

2 жыл бұрын

Thanks to this amazing team Their services saved my life

@prissybaby5256

2 жыл бұрын

Thanks to this amazing team Their services saved my life

@mztina1969

Жыл бұрын

8. Kjki>I u I 8

I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *850 Financial assessment* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!

@monicabond8654

2 жыл бұрын

Much love, they've helped me in such a way I can not explain with words, thanks guys

I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.

@martingiavarini

8 ай бұрын

That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success..

@hermanramos7092

8 ай бұрын

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

@martingiavarini

8 ай бұрын

Catherine Morrison Evans is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

@hermanramos7092

8 ай бұрын

Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 20 years of experience is certainly striking! very much appreciate it

@Irinaki777

8 ай бұрын

😮 I would like to know more 😊

It’s beyond true that *Linux tech corps* has intriguing ROIs

@odithegoldenretriever2158

2 жыл бұрын

They are literally the best, fixing my credit and investing using their platform saved my life from going back to the trench I came from 7 years ago... 🙌🙌

I paid mine off in 4.5 years. I worked my ass off and put every dime extra towards principle. I didn’t buy new furniture, rarely ate out, drove my old paid off truck and did whatever it takes to reach my goal. My 143k house a was going to be 465k if I paid the minimum for 30 years so that was my motivation

@Atypicool

2 жыл бұрын

That’s awesome, my is about the same amount, I’ll create a strategy to pay this fast so we can live better, I was thinking about to go get like a 65k loan with lower interest rate, to put towards the principal so I can save in the mortgage loan and pay a lower rate on the new loan, what do you think?

@opichocal

2 жыл бұрын

@@Atypicool I would just do whatever it takes to write a second check towards principle every month. Try to find side work like painting, yard work, handyman, buy and sell items that you know will profit etc. or get a second part time job. Write down every achievement on a mirror to help keep you motivated. My loan was 143k at 8.25% and the payoff was nearly 465k over 30 years. 😳 So glad I don’t have to work 80+ hours/week anymore.

@Atypicool

2 жыл бұрын

@@opichocal that’s very amazing, I’m just paying about 3 years so I still got 27 years, but I’m definitely going to put more effort to make extra payments, I want to be able to live better, and mortgage takes a good chunk of my paycheck every month, so thank you very much for the tip and have a great New Year.

@Jordan-dd5co

2 жыл бұрын

Nowadays interest is so low, it makes no sense to pay down mortgages sooner and instead put it in the market. A likely far better return on money. Also 143k?! Was this in the 80s? That's not even enough for a downpayment nowadays.

@opichocal

2 жыл бұрын

@@Jordan-dd5co I bought in 2000. House new in 1987 was 99k in north Dallas.

Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *Linux tech corps* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

@odithegoldenretriever2158

2 жыл бұрын

They are literally the best, fixing my credit and investing using their platform saved my life from going back to the trench I came from 7 years ago... 🙌🙌

Just paid off our home a couple of days ago in 5 years. Bought it in July 2016 and paid it off in May 2021. Such a liberating feeling. I didn't know about all these numbers she's talking about but I had one dream. And that was to be mortgage-free or in other words with no debt as soon as possible. I was extremely focused and disciplined while also living my life going on vacations. I will make a video of how I did it. It's not about how much you make, it's about how much you save. I am pumped up about teaching others how to succeed like me.

@uZah1

2 жыл бұрын

Hi please share the link am interested in learning your strategy thanks

@instantprofitorg541

2 жыл бұрын

Reach out☝ instant profit helped with the bills

@mariekarole1621

Жыл бұрын

That’s nice as long as no one looses their job like my husband did a year after we just moved in to a 30 y mortgage first house. Major depression follows.

@javonneiaakers8359

Жыл бұрын

Intrested

@Vchemsilabratvpravde

Жыл бұрын

Congrats! But sadly the property is never going to be truly yours :( The system is rigged. If you miss paying taxes they will snatch it from you so fast...

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 FINANCIAL ASSESSMENT* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

@monicabond8654

2 жыл бұрын

Much love, they've helped me in such a way I can not explain with words, thanks guys

@patsfball3710

Жыл бұрын

Why would you want to pay off your mortgage? On a 300k house that 300k in mutual funds making 10 to 18% you could live off the interest. Then jist make the minimum payment on ur home refinance every few years when the rate dips and pull ur money out of your mortgage as much as possible to reinvest.

@fuzzyelm1

8 ай бұрын

This system is basted on lies ! Mortgage interest is not front loaded and yes the mortgage interest is by far costing you less than the 21% loan

People complaining about the video’s length: she’s providing FREE help! You’re welcome to stop watching. Thank you for your videos, girl!! 🙌🏻

@leonpedro1135

3 жыл бұрын

It's new year. It's almost about that time of the year where Bitcoin gets to Sky Rocket, so many people are ignorant, they are staying on the sideline, waiting for a move up, and the right time to get in. I suspect that the rise will happen in a very short period of time, leaving those waiters behind and their reaction will push the price even higher so that they will end up underwater when BTC is consolidating, I know the price will speed up more, then bleed off and have an extended winter and actually go lower than current lows... Then as it goes higher, All we need to do is invest what we are Holding and make more profit, So we don't feel the loss in fall of price when it happens again, I discovered a comment of someone giving Accolades to Expert Mr. Carlos and also thanking him for helping him increase his Portfolio from having 3.4BTC to 16BTC. After I contacted him, Behold I have made 15 BTC in less than two months with his working strategies and signals, if you have lost so much during the fall or want to increase your portfolio like me, Reach on chat: (19715122836 }or Instagram @carlos_andrewfx or Facebook-Ms. facebook.com/Carlos.andrewfx and thank me later

@martinezmartinezrabergmailcomf

3 жыл бұрын

Contact Martinezraber@gmail.com or +12013507159 on WhatsApp(he does not take upfront payment) if you need help about forex trading , Bitcoin, hacking your PayPal,credit score fix, bank account,western union hack,money gram,credit card hack,instagram verification, facebook and many more...,

I told my coworkers I wanted to have a mortgage paid in full before I turn 40 a couple of years ago when I turned 27. I don't think they thought I was serious and that I was living a pipe dream. I worked 4 years prior and the next 4 years on overtime hours every chance I could get, took advantage of the stock market and housing market rally during 2020 and today at the age of 33 I can pay a mortgage in full and live free. It's a nice house, it'll still give me the freedom to move to greater goals...

@crystaljune473

7 ай бұрын

I'm really happy for you. Paying off a mortgage is huge. And the freedom that you have to do more of what you want probably feels amazing. Keep on keeping on. Eventually if you wanted a new place a nice move could be to make it a rental property and use that cash flow to help pay of the new mortgage.

@fisayofosudo538

7 ай бұрын

Equity in a house will likely be tapped into via a HELOC or straight sale. I believe if they sell, many will go back to renting. And housing supply will inevitably rise. So you can borrow against your home. What could be the best allocation for my $1m liquidity? Perhaps my stock portfolio

@Jessrobbie

7 ай бұрын

In my opinion, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.

@devoncampbell275

7 ай бұрын

​@@JessrobbieI will be glad to enlist the services of a reputable one? How do I go about finding and vetting them. We know the value of a fiduciary as we have a family lawyer and he has hinted on it occasionally, so we began to consider the idea.

@Jessrobbie

7 ай бұрын

​@devoncampbell275: I personally have my portfolio overseen by California-based wealth advisor and fixed income strategist at that 'Britney Cohen Rose > Pro' well established and you'd find her professional bio on the net. However I suggest you look closer to home, sometimes to move certain amount of money I am required to be in California.

I'll save you 29 minutes. Pay them more than the minimum, by a lot. You're welcome

@victormorales2408

5 жыл бұрын

I think your comment missed the point that most people have zero money at the end of the month to pay extra.

@bobguy6542

5 жыл бұрын

Victor Morales the question is, how to pay off your 30 year mortgage in 5-7 years. The answer is pay the mortgage company much, much more than the minimum. Everything else is inconsequential to the question. Bonus tip! : Stop spending all your fuckin money. You should be living on

@shredgod6394

5 жыл бұрын

Bob Guy To live on less than half your income you’d need to make like 3 to 4 grand a month depending on where you live..

@christianhernandez5781

5 жыл бұрын

56k most common income o,o

@shredgod6394

5 жыл бұрын

Christian Hernandez No. You may be confusing it with the average income which includes all the richest people and skews it. I’m not sure where you get 56k from tbh but I can tell you that 70 percent of American workers make 30 thousand or less.

I'm trying to increase my capital one card to increase my credit utilization and it won't be a hard pull. I keep getting "utilization of existing credit is too low." How can I fix this? I have made this card my primary card and have always paid it off and on time. I have usually not used it because the rewards aren't as good as my other card. Also, my credit went down 8 points because it said my oldest line of credit was closed but, it wasn't. I used that card to make sure so I have no idea what is going on there. Thanks kindly for your help! Jack of *850 FINANCIAL ASSESSMENT*

@laurabacinich6742

2 жыл бұрын

Thanks to them 👇 *850 financial assessment* for getting the job done , now in the 800 club

@janicechiaretto7082

2 жыл бұрын

Pay off your highest interest rate debt first when possible. If your mortgage is above 4.5% think about refinancing. Do the math however. The cost of refinancing may in the long run not result in a meaningful savings. On the other hand, if you have an investment portfolio returning higher interest than the mortgage, put your free cash in investments not the mortgage. Why dump working capital into a low interest rate vehicle (your mortgage) at the expense of buying higher return investments??

@vickijohnson9367

2 жыл бұрын

Use one card, pit it against other cards. All banks can see what you use. Another card above 50% use, call Capital One, let them know the other card is better, what can they do? They raise credit available. After they do, see if they send 0% balance transfer, if they do, use it. Then put another card, against the card you are using. Always keep one card with 0% balance transfer used +50%, pitting all other cards against it. Stop when you reach your goal. Usually takes 6+ cards with 0% balance transfer offers to use algorithms this way.

Presently, mortgage rates have reached their highest point since the year 2000, spanning a period of 23 years. Considering inflation trends, there's a possibility that this figure might continue to escalate. To provide context, the 30-year fixed rate was only at 5% around this same time last year. Faced with this scenario, the question arises: should I continue waiting in anticipation of a potential housing market downturn before making a purchase, or is it more prudent to shift my attention towards the equity market?

@ScottRich9

7 ай бұрын

The scenario is strikingly alike in cities worldwide-whether it's Shanghai, Hong Kong, Mumbai, Bangalore, NYC, London, or Toronto. Rent is soaring to unprecedented levels, while wages and salaries remain stagnant. It gives the impression that certain property owners are retaliating against tenants due to their hardships during the pandemic.

@HakimZakzi

7 ай бұрын

I believe that holding was comparatively simpler in the 1960s, and the landscape has become more complex nowadays. Those who consistently generate gains in the present era are often seasoned pro. This is why, for the past five years, I've enlisted the services of a fiscal guide. Their expertise has been instrumental in consistently building and managing my portfolio, with an eye toward securing my fiscal

@OlgaRusov

7 ай бұрын

I fully recognize the significant advantages of collaborating with a pro, but thus far, I haven't identified the right one for myself. Could you provide more details about the fiscal guide who has been guiding you?

@HakimZakzi

7 ай бұрын

I've enlisted Stacey Lee Decker as my fiscal guide, and her expertise contributes significantly to the fiscal industry. Acknowledged as a reputable authority in the field, she holds a deep understanding of portfolio diversification. I encourage further exploration of her credentials. With her extensive experience, she proves to be an outstanding guide for those aiming to grasp the complexities of the fiscal market.

I have never seen and heard about home loans and P&I explained more clearly and correctly. Not an easy thing to explain in a truthful way, and you did it perfectly. Give this person her own show, because she obviously deserves it. You can clearly see how the finishing years' payments are the only monthly mortgage payments you would ever want to find yourself at. Bravo Laura Pitko.

@instantprofitorg541

2 жыл бұрын

Reach out☝ instant profit helped with the bills

Howdy - may I suggest you make *Linux tech corps* correlating this to the United States Credit Scoring System; you know, the system where an entire nation's people are enslaved by their government over systems exactly like this? We need people who have influence to bring to light these types of correlations to get people asking and thinking or we will see ourselves slip into a tyrannical nightmare.

I would love to see an estimate of how much is the hour spent into setting up a yt channel valued. That is, if you were to stop creating content how much money would you get per month and what would the resale value of your channel be, considering that return ~#Linuxtechcorps~ was my REDEMPTION

@odithegoldenretriever2158

2 жыл бұрын

They are literally the best, fixing my credit and investing using their platform saved my life from going back to the trench I came from 7 years ago... 🙌🙌

#Linuxtechcorps has saved more lives than anyone here would know , start building your future from somewhere , it’s never too late

@odithegoldenretriever2158

2 жыл бұрын

They are literally the best, fixing my credit and investing using their platform saved my life from going back to the trench I came from 7 years ago... 🙌🙌

I paid off the remaining $25k of my home loan in 2 years. My wife and I, together, are lower middle-class, and was able to accomplish it. My monthly payment was $310, and we saved an extra $800 each month to go on the principal. Our final payment was in 1994.

@instantprofitorg541

2 жыл бұрын

Reach out☝ instant profit helped with the bills

I love seeing young people talking about the basic responsibilities of being a grown up. Good job Laura.

So thankful your video came to me! I’ve been ignoring the constant emails, calls, postcards, texts… from my mortgage company offering lower interest rate. Now I understand what my inner voice secretly knew! I’m exactly 17 years in on my 30 yr mortgage. Thank you & God bless!

@instantprofitorg541

2 жыл бұрын

Reach out☝ instant profit helped with the bills

Great video! I have a question, I have two fraud inquiries on my reports that I would like to get removed. I've seen your video regarding this, but Im still a bit confused. So I know my first step would be making a call with the credit bureau (Experian) but should I also make call what time? And would I be never stop sending a good compny *Linux Tech Corps* to my friends and people I know regarding any credit situations

@instantprofitorg541

2 жыл бұрын

Reach out☝ instant profit helped with the bills

Interesting...I liked all the math you gave! My husband and I paid off our mortgage ($150K house, 11 years ago) in 33 months with extra payments each month towards the principal...we ended up paying a total of $11,000 in interest. The first year of that we lived on one teacher salary. The next two years (little less) we lived on 2 teacher salaries. We had such a tight budget those months and threw everything we could towards it. It was hard but so worth it as we've now invested all that money saved for our retirement and kids colleges...and it allowed me to stay home when we had kids.

@lauraanaya6422

6 жыл бұрын

Olivia Snyder hi so to pay off the house early with your example can i ask how much extra you gave a month, i want to do that with my house pay off faster but not sure how much is recomended to pay off fast? I owe about 160

@oliviasnyder9991

6 жыл бұрын

Sure thing. For the first year, we paid an extra mortgage payment and made sure to apply it to the PRINCIPAL. Our mortgage was about $970/mo and with taxes it was $1350-ish so we paid the extra $970 the first year (we had a 15 year mortgage). After a year, I got a job (I wasn't living with him the first several months and then student taught so no income). Once I got job we paid another payment towards principal (so a total of 3 payments). After about another year (Year 2 of having house), we decided to add another payment (so total of 4). Then after 32 months of having our house, we had $17,000 left. My husband had been saving a little money for a car during all this and had $17000 saved. He decided it was wiser to put it towards house and be finished with payments and start over saving for his car (we had no kids). We owed $110,000 when we bought it (put $40,000 down). The key to paying it off fast though is to put those extra payments down at the beginning towards your principal since you're paying so much interest at first. You'll knock down that principal faster, therefore owing less interest. We paid a total of $11,000 in interest on our house. It was $150,000 and now worth $250,000 (we live in a booming city in Texas) so we will profit $89,000 since we paid $11,000 interest when we sell (probably more since we don't plan to move for a few years). Hope that helps. Good luck...go for it!

@lauraanaya6422

6 жыл бұрын

Olivia Snyder thank you so much its a sacrifice we live in California houses are more expensive, we owe about 160,000 so when i make extra payments to the principal i just need to call the mortgage company and let them know?

@oliviasnyder9991

6 жыл бұрын

Oh gosh that is tough...My house would probably be 3X as much there. Yes, call them and let them know you are going to make an extra payment that you want to go towards your principal. Ask them the details of how to do it...they'll let you know.

@lauraanaya6422

6 жыл бұрын

Olivia Snyder ok thanks so much!

I went broke waiting for her to get to the point.

@yummyra6522

3 жыл бұрын

Lolol

@duperfastEUC

3 жыл бұрын

@Domfeh Mensah can he fix my drug problems too?

@lg8365

3 жыл бұрын

Lol🤣

@everythingphalone

3 жыл бұрын

😂😂😂😂

@thebarndochick4270

3 жыл бұрын

Seriously... this is painful.

She's an incredible teacher! More power to you.

Stop and watch the whole video! Very informative! Thank you. So much knowledge and tools to takeaway for somebody trying to figure this out.

Jump to 20:00 for the HOW TO.

@TampaTec

6 жыл бұрын

thanks

@timcarranza8077

6 жыл бұрын

Not all heros wear capes!

@rjdodgerz2776

6 жыл бұрын

Thanx u saved me 19min and 55 seconds of my life

@claudetteclouatre5408

6 жыл бұрын

How about the interest rate on the line of credit? Would that not eat up the money?

@bobbyjames1714

6 жыл бұрын

Diego Almora You're the man

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *LINUXTECHCORPS* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

Her principle is correct. I've used the strategy for 10 + years and it works. Nevermind the numbers she presents, she is showing us the strategy.

@Damascuss07

5 жыл бұрын

Yea, nevermind that she can't do simple arithmetic, let's take advice from her on how to handle hundreds of thousands of dollars worth of investments! You seem like a friendly, gullible, fella, why not take advice from me instead? I've got some choice places for you to put your money, like my bank account instead of hers.

@Hogster202

5 жыл бұрын

Walt Whitman You are wrong

@Hogster202

5 жыл бұрын

Walt Whitman You're a moron. Apply the principles and you'll see!

@Hogster202

5 жыл бұрын

Theres this thing called simple interest that you obviously don't understand

@Damascuss07

5 жыл бұрын

Hog Farmer No, guy. She's telling you to pay down 6% interest using 20% interest and obscuring this obviously poor decision with obtuse (for the uneducated) terminology. There's no secret here, just clickbait for people who don't know better. You're blinded by some pretty pussy, or maybe you're just a "moron", as you like to say.

This is excellent advice to pay your mortgage off as quickly as possible. Not only does it save you money in the long run, but it also gives you peace of mind and a sense of security.

I have seem many videos on how mortange and interest rates work, and this video outbeats them all. The speed in which you speak, the visuals, handwriting, organizational skills is on point and easily understood. Finally! Thank you..... and these comments come from an experienced Educator and public speaker. So thank you and good job!

in short words: 1. get rid of high interest debts 2. don't buy anything in credit 3. send all extra money to your mortgage principal this is it it's true and very simple but could be very difficult because of self-control and discipline... until understand these: you can do anything when focused on the goal not on the barriers and dedicated all your power to achieving that goal with full commitment to it this is the way to success 😁

@mikehunt4333

5 жыл бұрын

that is exactly it,,, and the only way to pay off early..

@emmanuelsepulveda2468

5 жыл бұрын

B Krymoff Yeap, Yeap....I’m paying extra only on principal and paying enough to reduce my 30 yr mortgage to 7 yrs it really doesn’t take that much more it only takes discipline

@emmanuelsepulveda2468

5 жыл бұрын

We bought our house for 300k 3.875 interest 30 yrs.....our mortgage with taxes, home owners insurance and pmi insurance is 1950 per month.....we have been paying 1500 extra per month and will pay 5k once a year in March to be precise with income taxes. Yes I know 1500 extra a month is a real amount and sacrificing our income taxes for 7 years seems a lot too but when you think about reducing 30 yr mortgage to 7 yrs it really is a walk in the park.......I basically picked up a part time job to make the 1500 a month and the taxes is no big deal to me and my wife

@thenewbieguitarmaker

5 жыл бұрын

I did that one time and it works.

@bookeens

5 жыл бұрын

You said it in all in under half a minute, but i like the way she talks.

So you make $60k a year and “net” $5k a month? I’m sure the IRS has some questions for you.

@bloomscode3825

3 жыл бұрын

love it lol

@Keabrown79

3 жыл бұрын

I was wondering about that 60k a year will net you around 3k a month

@zachmullins9444

2 жыл бұрын

Ya if you are netting more than about 3600 of this, it's pretty fishy lol.

@_Solmega

2 жыл бұрын

My EXACT thoughts. Huge oversight.

Thank you for the video! I have had a passion for credit repair for a long time and I’ve helped a couple of people. I’ve even thought about starting my own business. Listening to you and seeing your passion has lit a 🔥 in me and learning from and using *Linux Tech Corps* . I have watched this video a few times just as motivation. I call it my “Victory Lap” video because you are spreading Nips message by following it! Thank you and keep pushing! Proud of you!

This is by far the most easy to understand video on this subject I have ever watched! Thank you so much!!

So for everyone that thinks a line of credit is a credit card they are 2 different things. A line of credit is a loan from a bank usually with a lot lower interest rate than a credit card. You can also use a line of credit for cash advances hence why you can use it to pay your mortgage. Credit cards you can upto a certain amount and comes with additonal fees. This system seems like it would work if you put your payments all to principal.

@WheelerRickRambles

3 жыл бұрын

Jay 0 exactly... I’m a former financial adviser... her ‘wording’ is confusing me

@instantprofitorg541

2 жыл бұрын

Reach out☝ instant profit helped with the bills

All good info. The main take-away that many of us are not aware of is that the clock is reset when you refinance your mortgage. People end up paying interest forever.

@760Kid

6 жыл бұрын

Yep, have plenty of friends that refi for extra cash when their property value goes up and they are stuck in the cycle of paying interest forever. Stick to the plan you originally had. Buy the House! The bank owns it till you pay them off.

@Advic77

6 жыл бұрын

This is quite good. What I got from this is that you need to be in control of what amount of your payment goes in interest and what amount goes to the principal loan. if you did get an interest only mortgage you can actually make extra payments and state that you want to make payment in lieu of the principal amount hence this will ensure you pay off your mortgage early as well.. But I guess her method allows you to use the credit card as an emergency fund which comes as an added bonus

@juanarce6047

6 жыл бұрын

You guys are all incorrect, i am a loan officer and i been doing this for many years. You dont owe time to your bank you owe money. I you refinance for a 30 year fix at a lower rate, you payment will drop there for if you continue to pay the same amount that you were paying before the refinance you will be paying your mortgage faster. But if in the other hand you refinance your mortgage and for a 30 y fix with a lower rate and your payment drops $300 dollars and you keep them to your pocket, then yes of course you will be paying in 30 years

@Advic77

6 жыл бұрын

juan arce at the end of the day it's all about paying the principal amount however these three factors interest, rates and time determine that. Understanding the relationship between these 3 factor ultimately can help in paying off the mortgage early. This is the ultimate goal of all those that have a mortgage. QED

@camsterasmar975

6 жыл бұрын

juan arce Spot on!! There is nothing wrong with refinancing, it just depends how you do it. If you start at 30 years, pay for x years and then refinance back to 30 years then of course it is reset and you are stuck paying the higher interest proportion. The key is to reduce the years remaining on the mortgage so more of your money works for you. If you have a mortgage you have to start somewhere and the first 5 years are the worst so you just need to get through that and afterwards make sure every change you make reduces the loan term. I started with a 30 year mortgage, paid it for 3 years and then refinanced. I got lucky as the rate had dropped so I could have paid less and kept the remaining 27 years term. Instead I opted to increase my payment by 20 and with coupled to the lower rate my term dropped to 19 years. 8 years wiped off in an instance. I’ve now completed my next fixed term period (during which I’ve made overpayments) and now I can refinance again and this time my LTV should be around 50%, getting a better rate yet again so my term should drop even more. Maybe this credit card plan is better but the 21% APR wasn’t included in the calculations. Would be interested to know how that factors in but I’m happy letting my money work towards reducing the mortgage term and not firefighting with a credit card. If the credit card was 0% then it would help. While using the credit card surely the same mortgage interest is being applied over those first 6 months??

I stumbled across your video and instantly knew this was made for me. I'm going through the same thing with my business but just knowing that I'm not the only one who's experienced this just pushes me to go harder. Continue to put out informational content and sharing your story, THAT is what separates you from the rest. Much gratitude Ach and *Credit backdoors* was so helpful during the process of boosting my credit

This video is gold and you really inspired me to get serious about my finances and stay driven to buy my properties

I have no idea why you popped up in my feed. This video was mixed in videos about kodi builds. You’re my angel! I will have paid off 10,000 in, at most 6 months! I’ve had a line of credit with my credit union for years. Used it a few times but never knew about this method. Next step is to pay off two vehicles and then the mortgage. 5 years is my goal. Thank you again for sharing this information.

@kimwinston4692

6 жыл бұрын

Alright guys This is very good tutorial up there! However I urge anyone going through debt issues or any financial issues at all to go contact the great hacker Webghost! And make cool cash without stress within 48hours. All you need is to have a good bank account or credit card . Then count yourself lucky and blessed. Because cash out is real and 100%. contact webghost33@cyberservices.,com or text 470 231 5053

@wisewealthrealestate6782

6 жыл бұрын

Alex M good luck its only a theory full of holes. 20 years as mortgage lender 35 years in real estate. And many years teaching credit. Way too many missing numbers

@armandinejacotin6706

6 жыл бұрын

I recommend you pay the vehicles first.

@toriless

6 жыл бұрын

BS

Thank you very much for explaining it a bit clearer. Matthew teaches this as well but I needed to see it visually so that I can apply this to my debt strategy. Side note, please ignore negative comments because they don't know how to do this correctly. You did a great job.

@wisewealthrealestate6782

6 жыл бұрын

Radeesha Brown mathematics don't lie. She is incorrect. So many of the ideas don't work in the real world.

@BroadcastingEssentialMusic

6 жыл бұрын

Yes yes!!! It was a good video

@Damascuss07

6 жыл бұрын

No, YOU don't know how to do this correctly. You're taking out a high interest loan to pay a low interest loan - you're still paying interest. Take that $2k surplus from her calculations and put it directly into your principal and you will pay your house off just as quickly for *less* money! You're not paying interest on it at all, via the LOC like she's using, how can people not understand this? What a stupid video, apparently being watched by a lot of stupid people.

@bulutongtubig01

6 жыл бұрын

yeah but she doesn't calculate the monthly interest rate on the LOC of 21 %

@iris5517

6 жыл бұрын

Damascuss07 stupid people like you, right? You don't have to insult anyone.

Hi. Don't know how young you are however, you have taught this 46 year old homeowner how to save a hell of amount of money. What my peers been trying to get me understand you made it simple for me and now I totally understand now. Thank you for educating me. I just bought a house with a loan of $460,000 at 4 percent. I just didn't realize how much of my monthly payments was going to interest. You actually truly opened my eyes and mind. You are very good at what you do....thank you!

@Nonybusinessxxxxxx

Жыл бұрын

4% seems almost magical now in April of 2023 at 7% rates...🤣

Right away there is a problem with the math. Your take home from 60k per year is NOT 5k per month. It is between $3,200 & $3,500 due to the taxes being taken out.

@sha370z

6 жыл бұрын

The problem is when i pull up the data for the city or town

@sha370z

6 жыл бұрын

6,775 people die per day USA . 151,600 people die each day world wide .

@sha370z

6 жыл бұрын

state of illinois unpaid bills top 16 billions

@kiwitrainguy

6 жыл бұрын

Companies go in to Liquidation owing millions after paying their top execs generous bonuses. Carillion.

@sergioeduardo4888

6 жыл бұрын

quantumphaser after taxes my friend

You did a very good job explaining a difficult concept for most people to grasp. Kudos to you for finding this strategy, so early in life. I found it at age 50 and have paid off 2- 30 year mortgages in less than 2 years. Working on my third now. 1 more year to pay it off also, then 3 homes paid off in less than 8 years total.

@mikegarcia7452

6 жыл бұрын

Craig Fox wow! That’s inspiring. Can you tell me how you did it in 2 yrs compared to 5-7.

@Foxeycop

6 жыл бұрын

Mike Garcia , I was able to work a lot of over time and apply most of it directly to principal until the House was paid off. Then I applied for and got a larger Heloc and paid off my second home, paying the Heloc down until we bought our 3 rd Home again utilizing our Heloc. Now I have a large Heloc on my second home with a 0 bal. out last home will be paid off in about 1 more year. Then debt free. I off set compound interest with simple interest and can still take it as a taxable deduction.

@aigi1990

6 жыл бұрын

you are very smart and hardworking guy.

@tcjohnson3437

6 жыл бұрын

You are never debt free from a home. Built mine with my own hands, on my own land, owe nothing but still pay now (it went up again) almost $700 monthly to cover my property tax yearly.

@MsLisaBrooks

6 жыл бұрын

Craig--you used a HELOC. It seems that Laura is using a credit card. That seems like a quick way to get started with the strategy without getting a HELOC. What are your thoughts on the credit card method? I'm thinking of trying it while having the money set aside to pay of the credit card of it turns out to be a bad idea.

Solid video taking the mystery out of banking and finance TY

I stumbled across your video and instantly knew this was made for me. I'm going through the same thing with my business but just knowing that I'm not the only one who's experienced this just pushes me to go harder. Continue to put out informational content and sharing your story, THAT is what separates you from the rest. Much gratitude Monique and *850 financial assessment* was so helpful during the process of boosting my credit

@fuzzyelm1

8 ай бұрын

It’s made fir you ? Does that mean you are ignorant as she is about mortgage interest ? She lied she lied ! You do not pay upfront interest on a mortgage hats just a lie

You can save people's time by saying at the start put your entire salary and some more into paying off a mortgage and some more right at the beginning. Don't save for house repair, eat less food, don't go out, don't save for retirement, don't buy clothes, live poor. That's the only way to pay a 30 year mortgage in 7 years..

@MichaelJubrey

3 жыл бұрын

Live like others won't now.. so you can live like other only wish later. 5-10 Year goals to relax and live good later!

@0111vramj

3 жыл бұрын

Don't have kids, don't have ANY medical issues or emergencies, don't go to any weddings, bday parties or other family/friend gatherings that you should bring a gift, etc. people cannot live like this.

@Emk315

3 жыл бұрын

You mean living within your means, such a noble idea, rihgh? The idea that a lot of Americans are scrambling to make ends meet during this Covid times are unfortunate reminder that most Americans are inept when it comes to basic home economics. Most people live above their means and the "American dream" continue to enslave them when racking billions for financial institutions. I know her examples are mere hypotheticals, but someone making 56-60k annually have no business financing a car. I know most people who are reading this are shocked by that statement. Well, that proves my point.

You are simply applying your monthly savings toward your mortgage principal. That is it

@VadasNWS

6 жыл бұрын

yes, exactly + she paying extra interest on her credit card :)

@johnderr6815

6 жыл бұрын

Thank you for saving me 30 minutss

@LivegoodCreator

6 жыл бұрын

yes but a line of credit and boosting your credit score is a plus.

@fuego07

6 жыл бұрын

Yeah, except in her way it takes longer to pay off because you are also stuck incurring absurd amounts of interest. This video is just terrible and anyone using this strategy is worse off. (compared to simply paying directly to your principal each month).

@jayt717

6 жыл бұрын

Monthly savings? What’s that?

Thank you Laura, you are BRILLIANT!!, I used your method and paid off a Home Line of Credit in a year and a half, I was $41,000 in debt and by following your method exactly we were able to do this. The key was to follow your method exactly the way you outlined it, and re-arranging your bank accounts so that money comes in and out as you said. Also, not spending money on expensive trips and items during this period. It works.

Preach Bruh! So happy I came across your video! During the pandemic I wanted to rebuild my credit so bad and have a new life by the end of this year that would benefit me , my family and my business I opened during the pandemic! I paid someone over $1000 to rebuild my credit and they started the process but ghosted me! I started doing my own research and Linux Tech Corps popped up on KZread ! I’m now building my own credit back up and I have 3 medical collection’s account to take care of and thanks to you , I know I can handle those! *850 financial assessment* were so useful and You’re such a blessing!

@fuzzyelm1

8 ай бұрын

If you believe the lies this idiot is spouting then you should sue your math teacher they failed! But then again anyone dumb enough to pay a scammer a grand to build your credit can’t be hood at math and damn sure can’t be good at finance

There are so many errors in this. 1. Credit cards do not charge simple interest. They charge compounded interest which is the same as your home loan. And they charge the compounded interest monthly. So, to make the math easy lets assume the interest rate on the credit card is 24% APR. That means each month they charge 2% on the current balance. The home loan is charging 6% on the current balance each year. Sure it is a larger number in interest because the loan is significantly higher. However, in this plan you are transferring $12,000 to the credit card every 6 months to get charged the higher interest rate. 2. She never added in the interest that the credit card will charge. If she wants to do a real comparison she should add up all the interest that the credit card charges over the course of this process and make the comparison. Then do the same comparison to just putting your extra money that you put into savings straight to the bank that has the home loan. 3. She doesn't take out taxes. If someone is making $60,000 that doesn't mean they are actually taking home $5,000 each month. 4. The original model is not a 0 cash flow model. Putting $1,400 into savings means you have $1,400 of cash flow. 5. The best option for paying off the home loan early is just putting the extra money that you are putting in the bank to the home loan. Use the credit card as your emergency fund and nothing else. That means don't charge anything to it and pay off the current balance. 6. Someone that is carrying a $12k balance on their credit card to begin with is probably not going to stop charging to that credit card for extra stuff which this method requires and she did not mention that at all. 7. Credit card companies charge a percentage of the purchase price of any purchases made on the card. When you use the credit card at a merchant they already have this extra charge built into their prices. However, the mortgage company does not and they will charge extra for using a credit card to pay the principle. This can be a large as 3%. So, if you want to pay $12,000 on the principle that means they will actually be charging $12,360 to your credit card. If you want to pay your home loan early just put extra money to the home loan. That is the simplest and safest method of getting out of debt as fast as possible. Additionally, don't use credit cards to buy anything. Sure having a credit card for emergencies is fine but pay that off as fast as possible. Or, even using a credit card for points or whatever other benefits you get from the card is fine but don't put more on it than you can pay in one month. This method will cost you more money than it would be to just put your extra money straight to the mortgage.

@shubhamdeshkar1685

3 жыл бұрын

this is a gold comment.

@tiffanylove5502

3 жыл бұрын

Thank You Paul ☺️.

@daryutube1

3 жыл бұрын

Finally! There was something in my gut telling there's something off. Using credit cards didn't seem right.

We have paid our primary house mortgage of $400k in 5 years of buying with 1 income. It is possible with some determination and lifestyle changes. Your video has inspired me to share my story in my channel. Thank you for that! Keep making more of these videos!

Kudos, Laura, to the simplistic breakdown and explanation of the models. Feels very honest and wholly informative. I vaguely remember learning this in school (sadly, without paying much attention to it). Then, I did not appreciate it nor foresee it's application in real life especially with the system here in the US.. but happing on it today, it's been truly helpful. Will search for other videos of this sort, from you, and seek to learn more. I'm truly inspired. Thank you!

@instantprofitorg541

2 жыл бұрын

Reach out☝ instant profit helped with the bills

@15:50 Glad you mentioned how refinancing towards the middle of your loan term is irresponsible & a waste! Some people don't realize that refinancing resets your amortization schedule. The allocation of your monthly mortgage payments toward the principal & the interest is inversely proportional over time. Once you've passed the midpoint of the schedule its all gravy & feels good. Its better to just pay extra $ towards principal only. Unless one is in a really high APR or in a loan that will adjust, its better to stay the course. Also if the goal is to lower the monthly payments & extend the life of the loan due to cash flow problems, then yes go refinance.

Thanks so much, first watched this video two yrs ago, most helpful although I had to source for a means to make money passively while I applied your method. It all came together for good. Life thanks once again Miss.

@ian_vertogi

3 жыл бұрын

Looking for a reliable passive income stream, can you recommend?

@olgapedersen

3 жыл бұрын

ian vertical Well, and investment in the Forex & Stock trading market is what it took for me. I can’t trade myself, neither do I have the luxury of time so I have an expert handle trades on my behalf and I get paid less their commission.

@Steven_nagato

3 жыл бұрын

Olga Pedersen what expert do you invest with? Please

@olgapedersen

3 жыл бұрын

Chloe Nagato His name is Garth Londren, he’s an expert trader and has been doing this for a while now, and I came across his information on a blog post. You can look him up, he’s quite the visionary.

@alfredo_chavez

3 жыл бұрын

Olga Pedersen i've read some of his studies on cryptocurrency trading and the NFP trading. Never got to work with him though. Brilliant man.

It can be done, my husband and I paid off our mortgage in about 2.5 years, however, no trips, no clothes and no entertainment, small sacrifice for a lifetime of freedom!!

@danielj6813

3 жыл бұрын

BUT YOUR HOME IS A CHEAP SHED FROM HOME DEPOT

@josephstrongbow5522

3 жыл бұрын

Contact David Winter via email at davidwinter46565@gmail.com or +1(361) 245-0314 on WhatsApp (he does not take upfront payment) if you need help about forex trading, bitcoin, hacking your paypal, credit score fix, credit repair, clearing debts, bank account, western union hack, money gram, credit card hack and many more. He is fast and reliable_

@jojomarie7446

3 жыл бұрын

It takes courage and commitment to do what you've done. Kudos to you. Most people are not willing to make the sacrifice.

@MP-nj1qy

3 жыл бұрын

Way to go Diane and family, congratulations!!!🍾🎊🎈👍

@flipnotrab

3 жыл бұрын

So the INTEREST tax write off for 27.5 years is gone for you. You COULD have taken your EXTRA payment funds and dropped into a basic savings account and MADE money long & short term. Not to mention have ZERO debt elsewhere.

Your genius. I had no Idea about all this mathematical information behind

Well explained! Real tip starts at: 20:26.

In any case, your formula is basically paying off early by double payment, and bi-annual lum sum of $12K.

You can do this without using the CC. It might take an extra 6 months initially. Use monthly 1400 savings to pay down initial CC debt. Then when there is a 0 balance CC that will free up 600/month. Save 2000 for 6 months until enough to pay 12,000 towards home loan principal. Or use extra 2000 a month towards principal. And you have a full 15000 emergency credit all year. You can probably even open more CCs.

@oricoil

6 жыл бұрын

But without actually using the CC your credit score will remain low and the amount of credit (for emergencies) you will be able to get will possibly not be sufficient.

@627horsepowers

6 жыл бұрын

Given this KZread video numbers, the credit score should already be high, not low as you say "remain low". As time goes on the credit score (might) go down a little. After the house is paid off, cash reserves can be built up quickly (compounding interest) + CC limit (possibly a little smaller) for emergencies. CC should be last resort for emergencies. Your net worth will rise quicker without any debt. If you want to minimize interest payments to mortgages, you can also minimize or no interest payments to CC companies.

@oricoil

6 жыл бұрын

627horsepowers agreed

@frostydigital9090

6 жыл бұрын

Once you pay down the balance on the credit line, you use the credit line to pay your monthly bills, then pay it off each month from your income in your checking account...You avoid interest on the credit line, but still have activity on the card every month. You raise your credit score, you raise the credit limit on the credit line, you apply any extra income to your mortgage principal every month. On most cards, you can avoid paying interest on purchases if you pay your balance in full each month by the due date. If you did need to use the credit line for some emergency, you revert back to getting it paid down first, then you rinse and repeat above. Remember that an APR is an ANNUAL percentage rate, so the entire APR is not applied to your balance on any given date.

@kevin8383

6 жыл бұрын

Ori Cohen that's not how a credit score works. Having a 0 balance on a card still counts as a payment every month. Also having less % of your total available credit in use will raise your score. The only problem you run into is the creditor possibly canceling your card due to inactivity which if you have had the card for some time could effect the average length of your credit history which will significantly effect your score. The way around this is to use your card once a month for something small like gas then pay the balance of immediately. This also prevents you from paying any interest. The video is right in that making extra payments on principal will pay off your loan sooner but using a credit card is retarded.

That was incredible. Explained so I could understand and use it. Thanks so much

Thank you! You did an awesome job explaining this. Very helpful information.

I just discovered this video... about a year after it was made. I purchased a 300k home 3 years ago. I have been making extra payments toward principal each month since we moved in. I now owe only 200K, so I know systems like this do work. It does take discipline. But it feels good. This video helped me see another way to help myself do even better. ;-)

@jakyc29

5 жыл бұрын

So basically, I will charge $12k on my credit card, use that money towards mortgage interest. Now I have a $5k credit card payment in addition to my regular monthly mortgage payment that I charge again monthly, PLUS the interest on the high cc balance. This seems to be paying double mortgage and double interests. Now, mortgage loans do not allow credit card payments, so do I pull cash from the credit card to pay for my mortgage at an even higher interest rate? And the credit card will charge a significant fee for the $12k LOC loan. I wish you would explain this. Thank you.

@nicolasfernando890

5 жыл бұрын

How do you pay mortgage using a credit card?

@wisewealthrealestate6782

5 жыл бұрын

video flawed. but extra payments always work.

I almost didn't watch this video b/c I read the comments first. That would have been a big mistake. I'm so glad I watched the WHOLE video. It makes absolutely perfect mathematical and financial sense to anyone who actually wants to learn something and pay off their mortgage much faster as opposed to people just looking for something to complain about. The comments about "too much detail" just show how stupid and lazy many people are. Your home is the biggest expense you'll likely ever have. If THIS VIDEO is "too detailed" for you to sit through and understand than you're likely going to go through life with a lot of issues. Thanks for a great video and a wonderful, clear, and thorough explanation!!!

@armandinejacotin6706

6 жыл бұрын

Absolutely Prophet too many people nowadays suffer from, shall I say it?, Attention Deficit? One should sit through as many videos as needed to learn better ways to get out from under that heavy burden of a mortgage. Thanks Laura and Prophet.

@tilitila88

6 жыл бұрын

Maybe you can help me.My question is....I don't have the luxury of waiting at the end of the month for that 5k lump sum.I have to be paying bills.I guess it's just on me to have that 5k available right?

@toriless

6 жыл бұрын

You need to take a math course. She make the 3K seem free. It is not!

@armandinejacotin6706

6 жыл бұрын

tilitila88 no need to wait - email me here at armandinej@gmail.com

@normasaavedra6927

6 жыл бұрын

Or you can just pay the xtra money you have to the principal without going into debt with a credit line. Stay out of debt people!

Thanks Laura. you did a great Job explaining it with patience. All the best for you.

I started working on my credit 2 years ago. I didn't know where to start I had no credit. I started looking up videos and found *Credit Backdoors* . I followed what you said and started with an secured credit card for 200.00 and mad sure to keep my utilization under 10% and paid on time every month. I now have 3 unsecured credit cards and a 757 fico score. Thank Danielle for all the information and tips. Now we are in a position to buy home.

You could also get a new credit card with no apr for a year. Thank you this is good. I really do like the Christmas lights btw

The goal here is to pay off as much of the Initial Principal Balance ($200,000 in her example) as fast as you can. Per Laura's video, you must keep paying your normal monthly payment, but instead of putting your extra $1,400+ per month in a dead savings account at near Zero Returns, she has you put that money towards paying off your Credit Card or Line of Credit FIRST, then begin paying off your Mortgage Principal in large chunks. Essentially you're just sending the bank a Principal Only Payment every 6 Months and then paying it off over a 6 month period from your Line of Credit Account and doing it over and over again. If you don't have any credit card debt or don't want to use a Line of Credit, you can essentially do the same thing by simply just sending the extra $1,400+ per month directly to the bank and MAKE SURE YOU MARK THE PAYMENT AS A PRINCIPAL ONLY PAYMENT so it gets applied directly to the outstanding Loan Amount, NOT INTEREST on the loan. By doing it Monthly, you may not save quite as much Interest on the Mortgage, but you will still save a sizable amount over time. By doing this, you will be paying down your Principal Mortgage Balance by an additional 16, 800 per year in addition to the principal paid down by your normal monthly payments you will continue to make. On home loans, the interest is calculated on the entire principal amount the day you take out the loan with the assumption that you will be taking 30 or perhaps 15 years to pay it all back (depending on the terms of your loan). A lot of original loan documents will also show you how much you will actually end up paying in total for borrowing the money for such a long time. On some loans, it can amount to 2x or 3x the original amount your originally borrowed, so, the sooner you pay off the Principal Balance (Initial loan amount), the less interest you will pay over the life of the loan. Great Job Laura!

@jessicawells2166

6 жыл бұрын

That Awesome great Job for what she explained

@oricoil

6 жыл бұрын

thanks for the clarification. Following Laura's explanation I didn't understand how I would get to pay less than the original amount. According to what you said, I now realise that the sooner I pay the principal amount, the less interest I will have to pay overall. I didn't know that. Much appreciated!

@katonusa

6 жыл бұрын

optionstraderman good strategy for thinking about it

@kevingrey308

6 жыл бұрын

optionstraderman gr88888

@angievillegas6294

6 жыл бұрын

optionstraderman you are very smart God bless u

Thank you Laura. Very informative and anyone can start applying this strategy immediately.

I didnt see u add in the monthly interest charge for your loc but outside of that .. brilliantly explained!

Good thing my husband is the one that take care about the finances..and I been learning how to avoid to over use my credicards. People should just spend what they can pay in whole the credicard and get a second hand car instead a new one and pay it ASAP. That's the main problem people don't know when to stop...spend..spend..and no pay.

@tommytuton7235

6 жыл бұрын

I make $68,000 a year but I only take home $31,200 a year, I take home $1,300 biweekly, I take home monthly 2,600

@WTFIWFYDB

6 жыл бұрын

Margarita Martasin Credit card could be used to benefit you. A lot of times they have some gifts and cashbacks if you use the card. The thing is to return money before you have to pay intrest and purchase things that you would have purchased regardless. But if you bad with money managment it's better to not even have one.

I have a debt with a collection agency that the original bill was in 2016 but not registered with collections until 2019. I have considered paying it off but the interest is more than double the amount. I don’t know what to do,I want to buy a home but Equifax leaves me a score of 480 and TransUnion a score of 510. I explain this to one of the agent who understand FICO a lot and he confided to me that if I really want to remove every negative item on my credit report that I should contact this credit repair company who specialise on credit repair. I reached out to Creditbackdoors⏹com for credit repair and behold the results were amazing, I now have an excellent 802 and all negatives have been erased as well..

@bikerchic7938

4 жыл бұрын

Collection agencies buy debt at a discount of what the balance is.. Try to get them to waive the interest charges or even try to settle for a smaller amount with not interest charges...They still make money as they bought your debt for much lower than your principle balance and you get out of the debt.. The key to this is to get them to send you something in writing because that gives you a document that proves it will be paid off by there terms

Thank you Laura , I saw your vid a while back it too me a while to understand it, but I’m using the strategy to pay up my home 😊

I had worked for credit card companies before and I know what I am saying. You are absolutely correct about the cash advance. But do you know that cash advance is incurring interest on a daily basis and it is immediately from the day of transaction. And it is higher interest than a regular retail purchase. Moreover, on a credit card when you make a payment, the payment is always put towards the balance with the lowest rate of interest, and then the balance with a higher rate of interest is paid. And this is the exact reason why people get in credit card debts as when you make a minimum or higher than minimum payment the balance with a lower rate of interest is paid first and then the one with a higher rate of interest. Leading to snowballing the balance and then people getting into greater and greater debt. This can happen to people with retail purchase balance as well if they don't pay off the balance in full. But it is not as bad as a cash advance. You can get in a CC debt faster with Cash Advance than a retail purchase. And if you have a combination of both cash advance and retail purchase the CC companies always pay off the retail balance first as it incurs interest monthly where as the cash advance incurs interest daily and they can make more money on a cash advance balance than on retail purchase balance. This is the fact. Which either you are unaware of or just negligent. Here is an article explaining that www.investopedia.com/ask/answers/111414/how-does-interest-work-cash-advance-my-credit-card.asp Also after reading this article I found out that now it has changed and the balance with higher interest is paid first. But you still need to read the fine print. As it may still be not true for some credit cards. Even if it is true, still I the other video which you had made the with the excel sheet i saw that video and still I am not sure did you consider the loan interest + the CC interest and fees put together or just the CC interest? I am not discouraging what you said. As I myself had used a credit card balance transfer for my first ever loan, which was a car loan. I had used credit card to bring down my car loans working rate of interest from 18.25% to 5%. But I had a background experience in credit cards and I knew what I was doing. Moreover it takes a lot of discipline and finance management. I was a MBA student back then. Still, I had spent several hours in budgeting, forecasting all expenses and emergencies also had to consider buffer amount. I also was willing to take a risk. If anything beyond my calculations would occur then I had a back up plan so I would not get in greater debt. All this financial planning and financial discipline is needed. Can you imagine just for a $12,000 car. I had to do all this. And, You are asking a common person to follow your program without any knowledge of CC or financial background. This could lead to greater debt. The best advice was not to refinance after 4years.

Thank you for teaching me something I knew nothing about. You're well spoken and easy to understand. Hugs* thank you kindly! subscribed

@hughrobert6189

3 жыл бұрын

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Risky Laura but I like it! Pretty good strategy as long as you don't exceed your limit and still have a job. Also liked your approach to it. At first I thought your were just reading it from a text book, but I stuck it out and glad I did. I don't have credit cards anymore, but if I did I might think about using this approach.

@armandinejacotin6706

6 жыл бұрын

Or you may want to use this approach truthinequity.com/homefree

@lisapezzella522

6 жыл бұрын

Many people use this method, she's not the 1st to use/teach it. I use a method where I purchase houses in full for $30k-$35K & make 15-90% interest on my $ that are backed by the homes. If you want to know more serenesirena@gmail.com

@toriless

6 жыл бұрын

It us retarded!! Just pay extra principal payment directly!! I pay about double my principal which means it will be paid in half as much time. She is also double dipping since you still have to pay the $1200 plus another $3000 which equals about $50K of you $60K income. Her math is bullshit! No one can afford to live on the extra 10K left. In reality, even if you pay $3K and send only 2K to principal you only have 22K left BUT THAT IS NOT WHAT SHE IS DOING!

@armandinejacotin6706

6 жыл бұрын

Making extra payments monthly is a just a tad more advanced than retarded! Want a see a live demo of that, send me email.

@Damascuss07

6 жыл бұрын

"Hey guys, it's me, Armandine - totally not-spammer, just your average multi-millionaire cruising KZread trying to give out free advice. If only people would send me their damn email addys so I could totally not-sell them to porn and Viagra peddling Russian hackers!" How was that impression, Armandine, pretty spot on?

This is great. The demonstration was so excellently done. Thank you.

Awesome description thank you so much for this video! Its going to help a lot!

At the beginning i was pretty much lost, but the more i listened the more clear it became.. i don't have a homelone but other lones i wish to get rid of. i'm gonna check into this and see if i can apply your method to myself. Well made video

@sha1841

6 жыл бұрын

Loan 😉

@White0523

6 жыл бұрын

ooh i didn't even notice i misspelled it. well thanks i guess ^^

@asialynn3845

6 жыл бұрын

Yes, me too I was quite lost but I'm glad I watched the whole thing as I'm going to be using this strategy asap....it's pretty smart and I'm glad someone explained it as I always felt ripped off by paying my car off but now I understand the process I can get around it and not get ripped off lol

@renatinharsl

6 жыл бұрын

asia lynn Hi, I dont understand how she does, could you help me? Simple explanations will be great. How she gets the money first months to pay principal?

@treecareEdm

6 жыл бұрын

It's Loan not lone...

This is absolutely brilliant. I can't believe it took me this long to learn this. Thank you and I have subscribed.

@wisewealthrealestate6782

6 жыл бұрын

wrong math

@wisewealthrealestate6782

6 жыл бұрын

married happily and 70 years old. and a past mortgage broker and current real estate broker.

@wisewealthrealestate6782

6 жыл бұрын

20 years as a mortgage broker and 35 years in real estate.

Great and insightful video, Laura... I love 💕 you!

I know A LOT about finances, but I didn’t consider this strategy; GREAT info…thanx!

I don't like it. I paid a 15 year mortgage in 5 years. Avoid credit cards, card payments, avoid going crazy with your mortgage, get a job that pays more and a part time job and apply most of your income to the principal. Set a 5 year goal. Done. That's how you do it.

@borntodoit8744

6 жыл бұрын

Mel Janesko That is correct... For constant cashflow CF1 (fixed income salary) reduce your libilities (aka eliminate daily personal expenses DE1, AND reduce overall mortgage interest MI paid on mortgage loan [by overpaying monthly premium MP to reduce term of mortgage loan]). This assumes standard repayment model (a repayment mortgage with capital repayment option). I would add further...change your model (to a flexible mortgage with interest repayment only option (flexible has 2accounts, a loan account LA and deposit account DA). Then when pay your monthly MP split your payments (pay minimum into LA and maximum into DA). In this way you will reduce the overall mortgage interest MI while still servicing the mortgage loan. As you build up DA your MP will reduce (till your flexible mortgage is fully offset = means zero MP)...then your living in a house where you owe most of mortgage loan, with zero monthly premium MP, the loan will be paid off when you sell the house (by incoming purchaser of house). QED...eliminate your mortgage liabilities while your living in property till you sell property.

@elmalpatriota

6 жыл бұрын

J Mi Was that your strategy? Did it work? Do you have better details? It sounds complicated...doing my research right now

@ParadoxicalProd

6 жыл бұрын

Please watch the video again....you missed the whole point.

@borntodoit8744

6 жыл бұрын

Cristian Aldana Hello Christian, my strategy is documented above my friend. Sounds like ur missing an education ...'ll try and explain, at the highest level (read book RICH DAD POOR DAD for concepts) ..To be wealthy you (1) need to get an education in finances / how finance products work...[Repayment Mortgage Vs Flexible Mortgage] (2) understand all finances boil down to the financial compass [an interplay between ASSETS vs LIABILITIES vs CASHFLOW vs CAPITSL GAINS]. (3) Apply financial compass to your knowledge of financial products too seek advantage ..question to ask Q1) what is the point u really start paying off mortgage principle [and stop paying interest on mortgage], Q2) can u move the point using legal means? Yes reduce personal liabilities / pay more to reduce mortgage term Q3) Can u defer paying the whole mortgage loan to end of ur stay in house [yes move to interest only option mortgage] Q4) also what do u hv to do to not pay the capital off every month [yes use interest only mortgage]. Q5) Can u reduce your monthly mortgage premium (yes use flexible Mortgagewith interest only option then try to get fully offset as quickly as possible) Q6) can u eliminate monthly premium completely [yes borrow beg or steal a large capital amount and put it immediately in your mortgage DA, effect=ur monthly payments drop to zero immediately if LA=DA / also u stop adding interest to your Mortgage & stop effect of compounding to ie ur house Mortgage becomes a zero interest loan over 30years OR Ur not paying anything for 30years=the cheapest money u can borrow). QED

@hondacrf450able

6 жыл бұрын

How are you going to " apply most of your income to principal", when most of your income goes to monthly living expenses including mortgage and all the bills? I don't get what you're saying.

😳 wow! This definitely breaks it all down and makes me feel hopeless 😂

You explained this very, very well. Thank you.

This is great . This should be taught to kids in schools !! Thank you for posting !!

I think you explain easier than my financial teacher at the school. Thanks sensei

@hibarixv1155

4 жыл бұрын

I'd listen to your financial teachers at school, she's looking at this in a vacuum and missing many crucial details.

She didn't mention that out of 5000 $ U get in hand is just 3500 $ Because of taxes , 401k and employer medical insurance.

@leodyer8535

5 жыл бұрын

Number doesn’t matter. She is showing us the strategy.

@angiebee3581

5 жыл бұрын

preet singh I was thinking the same thing lol

@AigbedoJr

5 жыл бұрын

Use the same strategy using 3500 then

@sassygirl6407

5 жыл бұрын

So the average American earns $3500 a month???? Wow, they're rich! I earn atleast $1000 less (putting it in $ but I live in Belgium) 😲

@Stevie-steel

5 жыл бұрын

she did say 'net' meaning in hand after taxes.. if your number is lower it will still work.

Very informative! Thanks a lot. Keep making videos like this it helps a lot

It seems I watched this before and gave it a thumbs up, and I want to give it another thumbs up now. For some reason I didn't feel convinced about doing it before, but it seems much more attractive to me now! I think I had to overcome all the social conditioning I've had about credit card debt always being a bad thing.

my neighbors held swinger parties at their house, $50 per couple, every saturday. They paid off their house in 4 years.

@adriancaldwell

3 жыл бұрын

I’ve just done a spreadsheet that’s 115 couples in one evening The clean up bill would negate the income

@twinklefairy5122

3 жыл бұрын

@@adriancaldwell haha! I wouldn't want other people's bodily fluids all over everything in my house

@bluefan651

3 жыл бұрын

That's a great idea!!

@Jons007

3 жыл бұрын

Bastards charged me more!!!

@WheelerRickRambles

3 жыл бұрын

What’s the address?🤣🤣

These are good practical tips. I love it because as a realtor, people need to know things like this ;)

@armandinejacotin6706

6 жыл бұрын

Yea Chanel, as an American consumer, we need those tips.

@toriless

6 жыл бұрын

It does not work.

@whoaskedforthisbs

5 жыл бұрын

As a realtor you should know that you can't pay your mortgage with a credit card.

@bluetulip2771

5 жыл бұрын

True. You can't pay mortgage with a credit card but this is different. There is a home equity line of credit and there is a home equity loan----they are two different things. The line of credit is revolving, pretty much like a credit card but the loan is a lump sum so that could have higher interest rate than the mortgage but not the line of credit. The line of credit is actually money you are getting by using your house as a collateral---it is not a credit card.

Thanks! Can’t wait to try and apply this strategy.

Love this, very nice training. Millions have no clue and this could help many younger and near retiring, if it suits their income and lifestyle. It's an option and solution for many* GOOD JOB! 🤗

The first thing is get the check with all the flipping taxes removed. So, your $5,000 earned is really like $3800.00. Then you have to take out the amount you are forced to pay for health insurance due to the flipping mandate. In our case for 5 in our family it is $1815. So then we are down to $1,950 to work with. And then there are utilities and all kinds of other insurance payments and living expenses and on and on. Very depressing. But I like what you are doing.

@laurapitko6404

6 жыл бұрын

Hold tight I will be releasing some tax strategy videos that will help you with this issue, thank you for your input.

@beetheace

6 жыл бұрын

Earned income DOES NOT equal kept liquid income as we have the IRS. You must have a brick-n-mortar or side-business to "control/access" your earnings and expenses. You really don't want to Own anything in this litigious society. As for mandatory health- care, there is always the religious freedom exemption if it is a deal-breaker or philosophical objection.

@phillipsierra2074

6 жыл бұрын

Good job

@beetheace

6 жыл бұрын

Ace Degenerate ha# nailedit. I also have 5. Love it. IRS hasn't got 1penny since 1991. This is way before KZread😂#selftaught

@Videpedia

6 жыл бұрын

Hi, it's no brainer to use cc to pay living expenses, but how do you pay home mortgage loan and car loan using cc on a monthly basis when there is still balance in cc ? Thanks.

Amazing explanation! I will try the strategy. Thank you!