Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
This is great, thank you! I was thinking about a HELOC to pay off my HIGH interest credit to save money because the RATES ARE ASTRONOMICAL right now. Going to pass on that option. I'll dig out on my own, just sucks having so much of my payments going towards interest instead of principal. super tough out here right now. good luck everyone!
I’m a real estate agent and I’m thinking about flipping houses. I just don’t know anything about fixing them up and am worried about contractors screwing me over. Any advice for how to pick a good one?
There is a 3 unit 3 car garage for sale near me. $600,000. First time home buyer gets me $5,500 a month. If I live in one unit, who the hell is gonna pay me $2,750 a month for the other 2 units??! The market seems like it does not support this dream anymore.
I feel stuck. You're right my balance have not moved. I'm currently looking for PT job so I can pay more on my principal. I've always have paid extra toward my mtge principal, but I never have enough to pay extra on my HELOC. I've played with the idea of paying the extra that I put on my mtge and switch and put it on the HELOC. What do you suggest?
I have been defrauded by heloc THRU FIGURE lending by overly inflating my property value and paid expensive origination fee then 3 months later suspended my heloc citing my property was significantly had declined in value. When I applied for a heloc loan on my residential property last May 2024 it was overly inflated up to $ 420,000 for a townhouse and was able to take a $200,000 line of credit causing me to pay an origination fee of $5,700 on which I paid after they deposited the lump sum money to my bank. I paid them back only taking $21,000 to pay my personal loan and credit cards balance. Three months later which is August of 2024 when I requested for another draw of $17,000 they suspended my heloc for the reason that the property value had significantly declined to $ 276 210. I felt devastated and distraught thinking that I had been scammed. They made a misrepresentation on the application for their gains. I'm not very knowledgeable regarding heloc and was not properly told/explained that once approved the whole amount will goes to your bank. I was not asking for a $ 200,000 loan. When I applied for Heloc at Figure lending took me 5 minutes processing including checking my bank account,they did their appraisal thru artificial intelligence and got the property value of $420,000 that's why they give me a loan of $ 200,000 to access. I checked their property appraisal recently and found out that they did the wrong address and made me felt like it's all fraud. The issue and my complaint was - there is no significant decline of property value. The correct value of my property should be on the upper $ 200,000 like to 270,000- 280,000 I owed 197,000 was expecting for a heloc of $ 20,000 or 25,000 at least. I know for a fact that my property was never appraised to more than $300,000 In conclusion if they have appraised it properly there should be no decline of property value and I should not be paying a HIGH ORIGINATION FEE of $5,700. Need help on what to do. I need to get some of my money back. Please BEWARE!!!!
I have been defrauded by FIGURE LENDING by applying heloc by overly inflating my property value and paid expensive origination fee then 3 months later suspended my heloc citing my property was significantly had declined in value. When I applied for a heloc loan on my property last May 2024 it was overly inflated up to $ 420,000 for a townhouse and was able to take a $200,000 line of credit causing me to pay an origination fee of $5,700 on which I paid after they deposited the lump sum money to my bank. I paid them back only taking $21,000 to pay my personal loan and credit cards balance. Three months later which is August of 2024 when I requested for another draw of $17,000 they suspended my heloc for the reason that the property value had significantly declined to $ 276 210. I felt devastated and distraught thinking that I had been scammed. They made a misrepresentation on the application for their gains. I'm not very knowledgeable regarding heloc and was not properly told/explained that once approved the whole amount will goes to your bank. I was not asking for a $ 200,000 loan. When I applied for Heloc at Figure lending took me 5 minutes processing including checking my bank account,they did their appraisal thru artificial intelligence and got the property value of $420,000 that's why they give me a loan of $ 200,000 to access. I checked their property appraisal recently and found out that they did the wrong address and made me felt like it's all fraud. The issue and my complaint was - there is no significant decline of property value. The correct value of my property should be on the upper $ 200,000 like to 270,000- 280,000 I owed 197,000 was expecting for a heloc of $ 20,000 or 25,000 at least. I know for a fact that my property was never appraised to more than $300,000 In conclusion if they have appraised it properly there should be no decline of property value and I should not be paying a HIGH ORIGINATION FEE of $5,700. Need help on what to do. I need to get some of my money back.
I have been defrauded by heloc by overly inflating my property value and paid expensive origination fee then 3 months later suspended my heloc citing my property was significantly had declined in value. When I applied for a heloc loan on my property last May 2024 it was overly inflated up to $ 420,000 for a townhouse and was able to take a $200,000 line of credit causing me to pay an origination fee of $5,700 on which I paid after they deposited the lump sum money to my bank. I paid them back only taking $21,000 to pay my personal loan and credit cards balance. Three months later which is August of 2024 when I requested for another draw of $17,000 they suspended my heloc for the reason that the property value had significantly declined to $ 276 210. I felt devastated and distraught thinking that I had been scammed. They made a misrepresentation on the application for their gains. I'm not very knowledgeable regarding heloc and was not properly told/explained that once approved the whole amount will goes to your bank. I was not asking for a $ 200,000 loan. When I applied for Heloc at Figure lending took me 5 minutes processing including checking my bank account,they did their appraisal thru artificial intelligence and got the property value of $420,000 that's why they give me a loan of $ 200,000 to access. I checked their property appraisal recently and found out that they did the wrong address and made me felt like it's all fraud. The issue and my complaint was - there is no significant decline of property value. The correct value of my property should be on the upper $ 200,000 like to 270,000- 280,000 I owed 197,000 was expecting for a heloc of $ 20,000 or 25,000 at least. I know for a fact that my property was never appraised to more than $300,000 In conclusion if they have appraised it properly there should be no decline of property value and I should not be paying a HIGH ORIGINATION FEE of $5,700. Need to know what to do to get some of my money back
Great content. Thank you. I’m subscribed. Can I use a HELOC against a second home for my child’s college education? Also, timing wise should I move on it now when she’s not stating college until Fall 2025? Thank you. You have a follower.
Hell no, get rid of that mortgage, that’s not very smart pay on a mortgage for 17 years before you start paying on the principal smh 🤦♂️ Pay off all your bills in the heloc and put your whole check in the heloc do velocity banking, every time you deposit your check it’s a payment, which that payment you always have access to. Bad advice….
I'm only 5' 3" and have balance issues. Getting on a step ladder to reach those upper cabinets would be dangerous for me. Most kitchens already feel like they weren't built for someone my height. Why would I willingly compound that?
The guy who designed my lovely kitchen told me specifically not to do this as it will look too much, optically uncomfortable and not practical either. He was so right and I am glad he wasn’t like this dude in this video.
Don't cheap-out?! Contractors are charging absolutely outrageous rates to build a house. A friend of mine built a house at the height of the COVID material costs. He spend $220/sqft to build the house. Right now, lumbar costs are 1/2 of the COVID period. But it would cost me $450/sqft or more to build a house.
See those things above the cabinets by the sink, stove, etc? Those aren't called "ceiling" they're called SOFFITS. So no, you didn't do it right, you dun fucked it up.
At 6'2" its a waste of money. I had a home that had 9' custom cabinets. I build cabinets and do home remodels. I had to get on the countertop to reach the top cabinets. It is just charging more for more cabinets even though they aren't really useable.
@@shadowbandit3975 imho, pantry is better than hi cabs,,my bro has hi cabs also and now older, he cleans less..so parties are less formal as if he is a camper in his home..lol..
I’m 6’6”, I ain’t reaching the top of those cabinets easily. I’m also gonna tell you every tall guy out here hates you for doing this, because they are always going to be asked to move stuff around up there.
Question is i have 2 homes with the same lender. But trying to tap into my HELOC outside of state which credit union wont give loans. Would it make sense to stay with those big banks?
Still so confused. :( I don't understand why people would use heloc for velocity banking. If you had bills that you can pay through your checking account with no interest, why would you put your bills on your heloc where interest will be added till you pay it off?
Great video and informative! Just subscribed. I live in a 2/2, looking to extend and add a 3rd BR. Reasons: Have 2 kids, love the area, love the school, and most importantly rate under 3%. Is it still reasonable to HELOC/HELOAN for this purpose?
We have several repairs that are needed. The roof need replaced & our home owners insurance didn't want to pay for the roof leaks. Our heat pump quit working years ago. There are a few other things needing done. We are discussing renting out some rooms as we are empty nesters in a big house.
