Can you SAVE $69,000 within 24 Months? YOU CAN with this trick. #mortgage #DeathNote

How much money do you have to bring in to be able to do this? Can you even get an loc after buying a house? It sounds like you'd have to be bringing in at least 220k per year to do this

I will appreciate if you follow your example for several months and imputing more real life data to figure it out better.
Thank you for your advise

I would love to know more about how to do this.

the cost of the LOC (from interest) PLUS the total interest using vb will cost MORE than making an extra 833.33/mo payments. when you compare interest saved using vb chunking (10k) vs making monthly extra payments for 12mo's, you'll find that you save more interest making extra monthly payments.

No wonder Americans are pour. Great information..

Why is 4x2?? Why 2?

Stumbled on your videos and I am honestly glad I found it. God bless.

I'm just so fortunate I was able to save for 10 years and buy our house with cash at a great price.

Thank you for the information. What kinds of lines of credit would you suggest? If you have a house with equity, can you use your own HELOC?

Thank you for the fabulous info! I'm staring this right now.

How often can this borrower in your example take another $10K and put it on their PLOC when their monthly expenses are already $8K? Are we imagining that every 5 months they're going to have saved the $2K a month to put on their PLOC and "pay down" another $10K? They don't have enough cash flow to do that any other way. Do they?

what calculator are you using 23 months at $3,441 per month is $80,000 not $490,000?

This doesn't work for low income or people with no home

Just applied for a Heloc, should I be using all of my money to pay down my cc debt/mortgage? Right now we are contributing to 401k and Roth IRA? Should I stop everything above the company match for 401k? I want to reduce our expenses and maximize cash flow, is this something you would recommended?

This info is so meaningful why don’t they teach this everywhere?

This method makes SO MUCH SENSE!! I am so grateful for you.

Thank you so much

Thank you for your advice. As a new home owner don't know if i should use my personal banking or the bank that qualified me on the mortgage, to get the line of credit. that's my confusion.

5,555 comment, great video. I hate interest, I will avoid it as much as possible

Great content as usual, I loved this as I am about to invest in uk property with 70k deposit (plus fees and more savings for furnishing and decorating) to buy my own place, but I am also treating it as my fourth investment, having two spare rooms for lodgers to cover this property mortgage and tax costs... and to build my equity whilst working my day job for my next investment.

They turned down my HELOC

10k income and 8k In expenses😂 omg this person needed a 200k dollar house. I think I’ll just keep saving and buy in cash.

Where does the 2 come from in that 4x2 formula??

It’s only for home owners I barely make 5k a month

I’m going to rewatch this until i understand

I got that call on my last home and declined. Expecting it any day now with my current home, and will decline again. 😂 Not at all interested in resetting the clock ⏰

We locked in 2.75% back in 2021 and have been making extra principal payments. Now im already at the ‘break even point (principal & interest is the same $)
in just 3 years!
I’m going to apply this method to Accelerate it 😃
This information is going to help a lot of people. Thank you 🙏🏽✨🌺

Paying off your mortgage as fast as possible is great advise. But do so with your own money from your checking. No need to open a LOC (additional debt) to reduce your mortgage debt.

I think financial advisers should be teaching about good saving products such as Index Universal Life (IUL) insurance instead of advertising more debt products.

Awesome job! Thank you Christy!

Best explanation ever seen!

How often can we use this line of credit to make these chunk payments? This video is so informative. Thank you so much! You are the best.

I think you are comparing apples to apple seeds here. Hypothetically, if a $500K LOC was available at 12% the annual interest would be $60,000 and the payments would be $44,000 and you would actually owe more than you did at the start of the year and would continue to get further into debt. I know it doesnt seem like it but the banks (i dont like them either) have this system set up to allow you to eventually pay off the debt.
I truly hope im missing your point here, if you could explain how I could use the LOC to avoid the painful first half of a mortage I would love to hear it, or see another video which explains it better than here.
Your video is infuriating because its true, but moreso because it is unavoidable.
Also a person with 10k monthly income isnt hurting with 1/3 going to mortgage. I actually question the rest of their expenses more. They should be putting more on the mtg and not just making minimum payments.
I usually ask to pay more than minimum, even if its only a few bucks, as long as it is in my budget to do so. Making lump sum payments on the principle is the best way to make the mortgage go away.

How do you buy a 500 K house for 10,000. ?

Thank you for helping me understand. You are a blessing.

This advice is misguided at best. It’s essentially trading low interest debt for high interest debt. Dont do it. There’s no magic here, just excessively complicated and misleading arithmetic. If you have extra cash pay down your mortgage principal directly. If your HELOC rate is lower than your mortgage rate then look into refinancing your mortgage. HELOC is riskier for the bank than first mortgage so the bank will demand extra risk premium to loan via HELOC. Ma’am, stop posting this nonsense, you’re causing financial harm to anyone who takes your advice.

"I do not understand, are you saying we should pay $10,000 up front into our mortgage interest one time payment once a year. Please explain to me . Thanks

Thank you so much for sharing this video and your content.!!!

“We’re gonna do you a favor “😂😂😂

My head is going to explode

Does anyone have any recommendations for buying a home in fl....like where to go for a loan and or a great realtor....im in the market now...

Hi this is the second video I watched so far and I'm a bit confused....I kinda understand the line of credit hack by putting income in a pulling expenses out..but to buy a home ,don't you need that loan to purchase the home..unless if your sittin on stacks or hit the lotto or sumthin. Or is this just explaining on how to not givem all that interest monies...because I'm starting my home buying journey now...can I get a 200,000 line of credit....lol...my fico is like 810

Please give me an example of owing 60k on the home, car 25k with 90k heloc available. What should I do. Should I pay everything off? If so what will I save? Bring home $5k.

This idiot know that over 60% of the population doesnt even earn 60k in 2 years including all income.

This is a$$ backwards, why would you take another loan out to pay your mortgage. If you have 10k just put it to the principal and move on. There doesn’t need to be another loan in the mix. This is why people are in so much debt trying to scheme their way out of paying for things. Buy what you can afford in the first place

If you make 10k income. Shouldnt you just have 10k on reserve + 10k of your monthly income instead of using a 10k credit line? Same concept except using your own money instead a line of credit

Great video. Literally the best I’ve seen on the subject! New subscriber here 😊

So take out a line of credit and put that as a principal only payment then pay on the line of credit as well as your mortgage payment each month??

It pains me to hear someone on 10k a month has money problems. We have no chance then do we. Cut your garment to your cloth I’d say to that guy, I could save him more just by him buying a 200k house instead of the 500k one 🤷🏽‍♂️😵‍💫🤦🏽‍♂️

❓ get a LOC at a bank orCU before getting a mortgage Or after the Mortgage❓

Tell your clients to buy Bitcoin