100s of THOUSANDS OF PEOPLE GETTING SLAMMED WITH HIGHER MORTGAGE PAYMENTS!

Подписаться 259 тыс.

Просмотров 170 тыс.

50% 1

When you get an adjustable rate mortgage, you are guaranteeing yourself in the future that your mortgage payment will inevitably go up if interest rates go up. Now thousands of homeowners are in the same exact situation who got a adjustable rate mortgage years ago and it is now adjusting to today's higher rate. Let's see what type of impact this is going to have on their payment and the housing market in general.
Need a Realtor? homeandmoney.c...
======
My Filming and Editing Equipment
michaelbordena...
======
I offer 1 on 1 calls, book one if you'd like!
michaelbordena...
======
Sign Up for My Email list and Get Weekly Video Updates in Your Inbox!
bit.ly/MBremin...
======
Get Cash Back on ALL your Internet Purchases!
www.rakuten.co...
======
My Microphone (Lot of People Have Asked)
amzn.to/3Mhs2oz
Articles Mentioned in the Video
apple.news/AAQ...
apple.news/A42...
apple.news/AoX...
apple.news/A72...
#realestate #housingmarket #homeprices #housingmarketcrash
FTC Legal Disclaimer - Some links found in the description box of my videos may be affiliate links, meaning I will make commission on purchases you make through my link. This is at no extra cost to you to use my links/codes, it's just one more way to support the channel! :)
DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s RU-vid channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, RU-vid, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

Опубликовано:

3 окт 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 1,6 тыс.

@Aarrenrhonda3 3 месяца назад

Fortunately, my spouse and I were able to pay off our mortgage early. While we were both still employed, we took the money we had been using to accelerate our mortgage repayment and invested it immediately. Thanks to nearly 7 years of saving what would have been our mortgage payment and to maxing out our 401K/403B plans, we were able to retire early. Fortunately, both of our parents instilled in us the need of living within our means.

@Peterl4290 3 месяца назад

Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

@larrypaul-cw9nk 3 месяца назад

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

@Mrshuster 3 месяца назад

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

@sabastinenoah 3 месяца назад

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

@Mrshuster 3 месяца назад

Annette Christine Conte is the licensed advisor I use.Just research the name. You'd find necessary details to work with to set up an appointment.

@nicolasbenson009 2 месяца назад

Mortgage rates are currently at an all time high since 2000(24 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

@Michaelparker12 2 месяца назад

The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market

@BridgetMiller- 2 месяца назад

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.

@tatianastarcic 2 месяца назад

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.

@berniceburgos- 2 месяца назад

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

@tatianastarcic 2 месяца назад

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@TheTundraDude57 3 месяца назад

Great video. I worked my ass off for 10 years with no vacations, no Starbucks 5 times a week, I kept my 2008 Toyota Tundra, and I did no frivolous spending, so I could pay cash for my home……and I did just that. My home is 2200 sq ft - 3 bedrooms - 3 baths on 1.2 acres in rural Georgia. Bought my house in 2018 for $162,400. I put $75,000 into it (new HVAC, new roof, new windows, new huge gourmet kitchen) and this year my house appraised for $327,000. I plan to stay here till I die. Borrowing money is for the birds. I owe no one a dime, and that is such a good feeling.

@bigvalley4987 3 месяца назад

What a beautiful reality that you secured. Thank Jesus for giving you the mind and fortitude.🎯💯

@Gigi30107 3 месяца назад

Wow great ! I'm in North Georgia. Sure is hot right now✌️

@TheTundraDude57 3 месяца назад

@@Gigi30107 It is sweltering here in South Georgia. I’m ready for Fall. 😂😂

@alexlaw1892 3 месяца назад

I smell corporate wellfare.

@Gigi30107 3 месяца назад

@@TheTundraDude57 Had family in Tifton for 30 years. Beautiful place. Widowed SIL in Moultrie now. I won't go visit in the summer lol

@BV-Auto 3 месяца назад

Just started my new mobile mechanic business 2 days ago and already have 2 customers scheduled for tomorrow. God is good. 🙏

@swampwiz 3 месяца назад

The car mechanic field has a good countercyclic aspect to it - when times are tough, folks keep driving their old cars, and they require a lot of work.

@bigvalley4987 3 месяца назад

@@swampwiz, That sound like me and my 2011 S40 Volvo. Just had an auto fix. However, I will ride the wheels off that puppy. She been dependable. And I can afford a new car. But I do not want to afford a car payment.💁🏽💯

@dvaritek434 2 месяца назад

Good for you. I wish you success. Starting a business is not easy, especially now.

@BV-Auto 2 месяца назад

@@dvaritek434 thank you sir

@stephensuon9620 2 месяца назад

Keep it up you will be very successful 😃

@quiatimet 3 месяца назад

We're living in the movie 'Idiocracy' and not the Republic that the founding fathers intended us to keep and defend. It's sad...

@s99614 3 месяца назад

Let's go Brandon!

@jesseamaya4413 3 месяца назад

Scary as hell movie. Depressing that turned out to be prophetic.

@MichaelBordenaro 3 месяца назад

That movie was so funny

@earlsciambrajr.841 3 месяца назад

The founding fathers found America they didn't build a damn thing. They call it freemasonry because all the masonry was free.

@secretagentcat 3 месяца назад

@@s99614 Lets go the USA is what you meant. blaming one person makes you look uneducated, anybody would know we had others before Brandon who we're messing up. Not just Trump either, keep playing the game weird ohs

@yl6128 3 месяца назад

i've been looking for a home since 2019, and my real estate agent called me a few months ago, asking if I was still looking for a home. i said yes, but i'm waiting for the rates to go down. he told me to get an ARM - and that's when I knew i was done using him as my agent.

@TheSuperdodgy 3 месяца назад

Agree ARM loan is crazy however, rates arn't coming down for a long time.

@AshleySpeaks4U 2 месяца назад

Great job. From now on, go ahead and state that you are waiting for sellers to quit smoking stuff. 😂

@SpiritualTraveler888 2 месяца назад

Smart move, I have agents calling me from months ago. Keep asking me if I'm ready to buy! Sure they bought at low rates, but want everyone else to buy at 7%, the irony!

@702cadi 3 месяца назад

Your wife was having fun on the walk. I can tell she is proud of you. Good on ya

@jimshoe402 3 месяца назад

That Poor Woman but lucky Dogs..

@johnjaco5544 3 месяца назад

You NEVER accept an adjustable rate mortgage,they go only one way UP! Come on people.

@TheSuperdodgy 3 месяца назад

Except when they went down to

@John1908-vo1iv 3 месяца назад

You can save an incredible amount of $ with an ARM if you know what you are doing

@v_DICE_v 3 месяца назад

I once nearly fixed my loan at 5.5% just before my variable rate dropped below 2%. Now that variable rate is closer to 6.5% but I paid my house off whilst the rates were super low.

@Mikefngarage 3 месяца назад

Most of the time adjustable rate mortgages are not a good idea. Back in the late 90s we had a temporary rate hike. I was selling adjustable rate mortgages ONLY on FHA......Knowing that the economy was not going to hold, and the rates were going to come back down. On FHA you Could at the time Stream line refinance with no appraisal. All of them ended up saving a lot on payments for like 2 years and I refinanced ALL of them to fixed rates with NO POINTS NO FEES!!!!. Knowing the market was key in doing the right thing. Right NOW......I cant really tell you what is going to happen over the next 12 months. Depression?????????

@LewisKindrick-r5n 3 месяца назад

I guess that they think that they might as well have one last great vacation before we witness the biggest financial crash in our lifetimes!

@enricopallazzo3244 3 месяца назад

They’re not incompetent, they’re complicit.

@EatMyOats 3 месяца назад

Updated Bank Emergency regs, if a bank risk failure, mortgage rates can be re adjusted.

@AngieInNC 3 месяца назад

Finally someone that gets it. Michael always goes on and on and on like he hasn't a clue that this is ALL being orchestrated by design. EVERYTHING they do is meant to destroy us. They are NOT incompetent if their goal is "you'll own nothing and be happy". I wish Michael would start calling it for what it is. If we don't know we're being attacked we won't defend ourselves.

@andrewgleason586 3 месяца назад

@@EatMyOats and thell go up... making it so you become a failure...

@tomjones2348 3 месяца назад

Bingo! Smart people here.

@PurpleMusicProductions 3 месяца назад

I intend to cancel my vacation this year, because instead my focus is paying down or off my credit cards and vehicle. Several cards are now at zero balance and I started doubling my vehicle payments to be done in 18 months God willing. Once all of that is done then the focus will be my house.

@diannemc3179 3 месяца назад

If people ask to “borrow” money. Say NO!!!!!! It’s not borrowing it’s giving them money. 100% will never pay it back. Two letter word. NO!!!!!!!

@AthenaLorenz-nx7gk 3 месяца назад

just remember that when you have to borrow because it will get to that with the unprecedented financial catastrophe that will soon hit this country

@Baruch-Hashem 3 месяца назад

Do not make a loan to a friend, make it a gift and t will save you the pain if it never comes back.

@wapa171 3 месяца назад

@@Baruch-Hashem My grandmother always said: "Never loan money you can't give away as a gift."

@trina2100 3 месяца назад

My dad had a pat line “sorry man I gave away all the money I had to give away”. They’d say no I’m asking to borrow it and he’d just repeat the line.

@Mooi-td6pl 3 месяца назад

It sounds like you learned it the hard way.

@jeffreyho-tung853 3 месяца назад

Love it that you get family members to walk with you while you podcast

@norcofreerider604 3 месяца назад

Regarding the whole Disney World thing. My father took my sister and I to Florida to go to Disney World when I was a kid (about 30 years ago, I think I was 8). I barely remember the trip. What I do remember doing with my dad (from around the same time period) is things like going fishing, or making a toy sailing boat in the workshop. Kids remember the time you spend with them far more than the money you spend on doing things with them.

@--Morpheus-- 3 месяца назад

I remember trips to national parks way more than amusement parks

@Krzwl 2 месяца назад

Amen. There's something unforgettable for a child about a parent enjoying his/her company, sharing a like interest together... especially when it is in focus of Nature.

@karenkoe7096 3 месяца назад

Moral of the story: Never get an adjustable rate mortgage.

@benton-benton 3 месяца назад

We got a 5 yr ARM in 1990 w/interest rate of 9 3/4%. Otherwise the interest would have been over 11%. It worked out fine for us b/c we sold the house before the 5 years was up and made some money too.

@pierrek5260 3 месяца назад

Yes, right now is the perfect time to get an adjustable mortgage.

@edwardkeenan7354 3 месяца назад

property taxes will also drive them up.

@benton-benton 3 месяца назад

@@edwardkeenan7354 Property tax is the worst.

@edwardkeenan7354 3 месяца назад

@@benton-benton it really is

@tizzx4945 3 месяца назад

Nice to see you two together in a Video!😊

@Lisithedogwalker 3 месяца назад

Thank youuuu!!!🫶 I am happy to be here with my baby and enjoy the walk!☺️😎 Happy 4th!!!💙❤️🤍

@Krzwl 2 месяца назад

My favorite part of this video episode: Freeze Frame on the Kitty Cat-Luv Intermission. That Tabby had no hesitation calling out to you, Miss Lisi (this was mutual). Your sensitivity to animals is so refreshing to witness.

@Lisithedogwalker 2 месяца назад

@@KrzwlThank you so much!!❤ I love all the fur babies!😻 Couldn’t help but give him/her some love!🥰

@Rightiswrong-qv5ul 3 месяца назад

I had friends that took a vacation when they were in the beginnings of a foreclosure they said they deserved the vacation because of their situation. Blew my mind.

@Laura-ed5kf 3 месяца назад

My 11 year-old REALLY wanted something, said he’d “pay me back”. I had this realization I am NOT his credit-card, did NOT want to teach him credit card-use, & made him work and buy the thing himself. He did, bought the pet himself, and now it’s a new lesson he’s learning in taking care of one’s possessions. TRYING to raise-up a responsible-adult here!

@williamwatterson8778 3 месяца назад

Glad to see Lisi figured out her dog business so she can be with you

@kingscairn 3 месяца назад

The best memories are the simple ones

@mtbwill69 3 месяца назад

Adjustable rate mortgage is basically a stupid tax. If you entered into an ARM then you get what you deserve.

@TOCC50 3 месяца назад

There was a girl that forgot to fill up her car and we got stranded on the highway.

@wheelofcheese100 3 месяца назад

Adjustable rate mortgages are too much of a gamble. My first loan in 2004 was an adjustable rate. When it was all said and done my cheap mortgage went to $1400/month. Nowadays, that sounds good but at the time 1400/month for me was extremely rough. I don’t know how I held on 😂

@benton-benton 3 месяца назад

We got an ARM back in 1990 for 5 years, so we could get 9 3/4 interest instead of over 11 interest. It worked out ok b/c we sold the house and moved before the 5 years was up.

@MP99. 3 месяца назад

Worked out for me. Got a 5-1 arm in oct 2005. So locked in till 2010. Well the GFC happened and rates went to nothing. My base for the loan was 3.5% (lowest it could go ever) so it sat there for yrs as it is a trailing 12 mo average. Well then it started to go up slightly on a yearly reset before covid. and bam Refi to 2.23%. Had I not refi it would be sitting near 8 now as 8.5 was the Max it could go.

@michaelpowell7120 3 месяца назад

YOU did this thing?

@Tsuppi1970 3 месяца назад

Same madnes all over the world. Greetings from Finland, Europe is sinking boat too. People have lost their minds totally.

@luigijohson6732 3 месяца назад

It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.

@debroahmorrow5919 3 месяца назад

While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.

@danialwiren2403 3 месяца назад

But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?

@patricia_nura3378 3 месяца назад

Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.

@Elina_H 3 месяца назад

How can people address concerns about their property values?❤❤❤

@patricia_nura3378 3 месяца назад

Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.

@1SFOD 3 месяца назад

I'm sorry, but if you needed an ARM to get into your home, you got in over your head and way BEYOND your means.

@John1908-vo1iv 3 месяца назад

You can use it in your benefit and pay less interest to the bank. I did. Could tell bank was pissed when I paid off my mortgage in less than 5 years. I was paying extra to the principal every month.

@Drew-l3r 3 месяца назад

@@John1908-vo1ivgood call if you paid it off 😅

@deep6301 3 месяца назад

Homes were going up in value so who knew they would tank overnight

@rudolphsmith1022 3 месяца назад

Praise Jesus Christ! Please read in The Holy Bible John 14:6, John 10:10, Mark 8:36 , Hosea 4:6, John 3:16-17, Matthew chapter 24 and Revelation 21:8. HALLELUJAH! God bless.

@dalma5128 3 месяца назад

I love how you address this topic with such honesty.

@TOCC50 3 месяца назад

Founded by Freemasons

@TOCC50 3 месяца назад

Freemasons

@joycedudzinski9415 3 месяца назад

Same person posting po rN

@edmardt 3 месяца назад

Friend of mine lost a house years ago with an ARM, said he did not know what he was signing and I told him he should have hired a real estate attorney and brought them to settlement, they are needed if you do not know what you are signing, well worth the money!

@thelastboomer9088 3 месяца назад

Yea but I’ll bet the realtor made out.

@User122-qi6md 3 месяца назад

Honestly, if he did not know what he was signing, he is not a financially inclined person. He can blame the bank, the realtor etc, but the contract terms were right in front of him. It's primarily his fault.

@thomasyenner2499 3 месяца назад

Are some buyers “willfully ignorant “ ?

@linmal2242 3 месяца назад

And most mortgages in AUS are variable ! Pretty standard in this country! Gotta protect our banks, yeah !

@Gorana7686 3 месяца назад

It’s so sad , landing company lied 🤥 to my parents that it’s fixed rate and 5 years later my parents found out it was not. Thank god they had money to refinance loan. My parents did not speak good English and I was very small to help them out. Now they retired in their 50s and moved back to Europe.

@jackiechai1545 3 месяца назад

The most beautiful part of your walk today is Lizi ❤🎉❤

@mikehawk9902 3 месяца назад

I will definitely second that.

@queserasera1674 3 месяца назад

I love your wife extending her hand to pet the kitty. ❤

@Lisithedogwalker 3 месяца назад

I can’t help myself!!!😻🤍🤗 Thanks for supporting his channel!🙏

@tamjeanell 3 месяца назад

Actually not healthy..cat could have had fleas

@queserasera1674 3 месяца назад

@@tamjeanell Please tell me you are not being serious.

@TwoPyramid 3 месяца назад

@@tamjeanellIt’s more likely that the cat had an adjustable rate mortgage.

@pamelqtaylor8335 2 месяца назад

@@TwoPyramid👏👏👏👏👏👏👏🤣🤣🤣💀

@denisep.98 3 месяца назад

Enjoy your summer!! That sweet cat remembered Lisi and said good-bye as she passed by again! 😍 That was so sweet.

@shadowfilm7980 3 месяца назад

Love Cats! They are great. 👍

@lolaloren1773 3 месяца назад

@@shadowfilm7980... I have five cats... love all my fur babies!!!!:-)))

@Lisithedogwalker 3 месяца назад

@@shadowfilm7980And so independent and smart!😺😻🫶

@Lisithedogwalker 3 месяца назад

@@shadowfilm7980Indeed they are!!!🫶😸

@firemike-on5vw 3 месяца назад

Thank you for your remarks on the forefathers of this country. They really would be sadden on the way things are. It's crazy everything that is going on and how dumb people are. This isn't what I fought for. Things are about to get really bad. I truly appreciate the facts that you provide with your opinions. You are spot on. Thank you!

@bpb5541 3 месяца назад

I feel the same way you do.

@syscoladyliberty6080 3 месяца назад

I can't tell you how valuble this channel is...Thanks Mike❤

@Deelynn-woohoo 3 месяца назад

We've only bought 2 houses in our lives, but neither one was adjustable rate mortgage. At least we were that smart.

@marklane870 3 месяца назад

Me too but paid cash no mortgage

@blackworldtraveler3711 3 месяца назад

I was called paranoid and silly when shopping for first home because I did DD, math, and read several books about buying a home. Things like this is why. There was a whole chapter explaining in great detail about fixed and adjustable rate mortgage. Also learned from books how to get a mortgage with zero credit.

@tessramos8828 3 месяца назад

Hi Michael and Lissy 🌻 So good to see you two again Actually Lissy is contributing . . She is a positive and supportive partner in your life. Love your channel 💞

@F14Flier7 3 месяца назад

My mortgage was $2,600 on a house I bought back in December 2021, the mortgage is now $3,300 because of higher taxes and insurance rates. I have a fixed rate... and am still getting wrecked because of it. Unfortunately my situation will only get worse because I will never be able to refinance or get relief later in the future. Obviously an ARM is worse, and the problem will be EVEN WORSE, but this problem is MUCH more wide spread than just in the ARMs.

@nickw3867 3 месяца назад

Taking the kids out to dinner at a restaurant where you don’t carry your own tray to a table probably costs $400

@johnh8705 3 месяца назад

I took my parents to Luby's. I was insulted that they expect tips

@commonsense6967 3 месяца назад

I guess I'm about to find out this weekend with the grandkids, lol.

@bpb5541 3 месяца назад

@@johnh8705that bill went to the restaurant and the rich folks that own it .... not the "help" that is actually doing the work. Those folks get mostly paid by tips. You're not a real good person. That waitress probably is struggle even more than you are.... next time you go there they are probably going to spit in your food.

@KayFabe87 3 месяца назад

$400 is a month’s worth of food for my wife and me. Beef, chicken, pork, vegetables and fruits. No packaged garbage. Can’t imagine spending $400 on a single meal.

@donaldholstein8759 3 месяца назад

In 1980's the same thing happened with ARM. Some of my coworkers back then saw their interest rates went up to 13%. I was taught by my father back then, to get a fixed rate;; your budget is harder to control otherwise.

@dmulkey4185 3 месяца назад

What gorgeous trees everywhere

@jakeforrest 3 месяца назад

Redwoods

@swampwiz 3 месяца назад

Yes, but very dry trees that could easily catch fire ...

@jakeforrest 3 месяца назад

@@swampwiz Redwood trees are famous for outliving all of the trees when it comes to Forest fires. But they may have to be very big, to handle that.

@burmy1552 3 месяца назад

@@jakeforrest ... and sequoias actually flourish in fires. That's when they drop their seeds.

@deborahilyia1125 3 месяца назад

Have no debt!

@vikingprincess634 3 месяца назад

Agreed! Debt = Slavery

@MrRockydee07 3 месяца назад

Them people with adjustable rate mortgages took the snake in ....

@danielh4051 3 месяца назад

When Admiral Ackbar said the words, "It's a trap!" he wasn't talking about the death star. He was looking at adjustable rate mortgages.

@CYBERTECHY1 3 месяца назад

Welcome to California Michael! Shouting out from Sacramento. It is 101 degrees here (now)

@TOCC50 3 месяца назад

127 in Palm Springs

@Lisithedogwalker 3 месяца назад

@@TOCC50😮😱🥵

@kaydublin5164 3 месяца назад

Gorgeous trees and neighborhood,another educational video, thank you Mike😊

@williamwatterson8778 3 месяца назад

Great sunglasses I can see Lizzie walking in front of you through the reflection it helps you hold my attention while you're talking

@KaliBahayKubo 3 месяца назад

Our Grandfather was the Head Mechanic at Disney World. We went every year..stayed in the Polynesian Hotel...BIGGEST MEMORY..Sweeping out the coins in the shut down MAKE A WISH FOUNTAINS with my Grandfather. 😂😊

@pooh4519 3 месяца назад

Well peoples heads are so broken, it's handy to have a mechanic to fix it.

@Poopster4U 3 месяца назад

I love the food at Poly and it's on the Monorail!

@Sassywhitclass 2 месяца назад

My mom bought her house in 2005. I was only 16 years old and I remember her saying vividly never get an adjustable rate mortgage!

@cassandrawright-mq5kp 3 месяца назад

My best friend (with bad credit) had an APR mortgage on a house she couldn't afford in 1997, but was just able to make the $450 a month payment...until the APR mortgage kicked in just before the housing bubble burst in 2008. One night she called me in a stark, raving, panic that her house payment was $728 that month. All due to her APR mortgage, and a 'dodgy' mortgage co. When Barack Obama became president he bailed out greedy, tanking banks (then went ballistic when told bankers gifted THEMSELVES with millions in BONUS'S of the federal money meant to stabilize the banking system) and allowed her to file to get out of the APR mortgage. Your right, Michael, the Simplest Pleasures bring the happiest memories. My Mom & I going for ice cream sodas together after the library. My Dad & I eating watermelon in the summer sitting on the edge of the porch, him challenging me to a "Seed Spitting Contest."' We never went to Disneyland, he would've NEVER spent money on that, at all. People are in for nasty financial shocks.

@anthonyhutton9174 3 месяца назад

I believe Bush II and Paulson bailed out the banks by creating the $700 billion Troubled Asset Relief Program (TARP) to purchase failing bank assets.

@treesnmoguls 3 месяца назад

That program was called HARP (Home Affordability Refinance Program). It DID help a lot of people (the ones that were diligent enough to refinance and or get a workout program AND make the payments).

@robcyr839 3 месяца назад

Everyone could have had their mortgages paid off and the banks could have got their money back that way in 2008 but instead the bailout went directly to the banks while the homeowners were screwed......unbelievable. It will happen again soon. Unfortunately, the peons are not too big to fail.

@drlatham22 3 месяца назад

The bank bailouts in 2008 (TARP--Troubled Assets Relief Program) occured under the Bush admistration. The Bush administration also bailed out GM and Chrysler so those two entities could contiue making crappy cars and trucks.

@cassandrawright-mq5kp 3 месяца назад

@@treesnmoguls Thanks. I didn't know the program's title. I know her son called, told her an office opened in our county/city bldg., get house papers in order, get over there fast. She did. Yes, her house was refinanced out of APR rate, saved her. At least she had her home when she died of cvd-19 in 2022. Kids have it, now.

@johnrambo7630 3 месяца назад

Borrow for vacation? Crazy. An out of town vacation is a treat when you have the money for it.

@michaelhatfield5808 3 месяца назад

Imagine taking on debt to go to Disney 🤦‍♂️

@dallasstudent1605 3 месяца назад

Thank you for sharing your family with us. What a blessing to have such a wonderful family.

@Lisithedogwalker 3 месяца назад

Thank you so much for your kind comment!❤️🙏

@winniethepoohandeeyore2 3 месяца назад

Aint parting with my 2.875 30 year fixed that we overpay on ever since our first payment was due

@Greyhawk4x4 3 месяца назад

Feeling pretty good about my 30 year fixed 2.25% right about now.😃

@bpb5541 3 месяца назад

Same and a house that is almost paid off. That is my next goal.

@Shillmehowtolive 3 месяца назад

Same 2.75 here.

@dcg590 3 месяца назад

1.8% for 15 years during Covid!

@BEHEMONAUT 3 месяца назад

I remember, it must have been 20 years ago now, there was a commercial that really stuck with me. Starring a nice young middle aged couple with a pet monkey. The monkey was symbolic of a variable rate mortgage. In the beginning of the commercial, the monkey was calm, but as "time passed" the monkey became erratic, trashing the house. It was probably a commercial for a refinancing company? I learned back then that a variable rate mortgage was a bad idea. That commercial was kind of a work of art.

@briangammage5351 3 месяца назад

Thank you for your wife joining you in the video! She is so sweet; it is nice hearing your analysis and seeing her admiring the scenery. Y'all make a great couple!! Love the kitty cat!!! Hope y'all had a great 4th of July and thank you again for the great videos!!!

@Lisithedogwalker 3 месяца назад

Thank you so much Brian!🙏❤️ I couldn’t help and had to say hi to the cutie cat!😻 Happy 4th!!❤️💙🤍🙏

@glennhattori5464 3 месяца назад

WELCOME BACK TO SUNNY & HOT HOT HOT CALIFORNIA! When I bought my first house back in 1984, I got a ARM just because I couldn't qualify for a fixed rate. When the rates stablized at a good fixed rate, I refinanced for one with the help from my Dad. I'm now living in my 3rd house. Have a only a few years before the loan is gone. I will e retiring in a couple years from the USPS like your Mom. I will have no debt and hopefully I will have an idea on what to do in retirement. I REALLY ENJOY ALL YOUR VIDEOS AND I LEARN ALOT FROM THEM. KEEP THEM COMING! HAVE A NICE 4TH OF JULY AND BE SAFE!

@alycat9186 3 месяца назад

You are one of the few success stories. Well done, Sir.

@CMBBmc-jd6ur 3 месяца назад

Pausing to pet the cat: sweeeet!

@Lisithedogwalker 3 месяца назад

I couldn’t help myself!!!😻🤍❤️🙏

@MissingRenoboy 3 месяца назад

Beautiful scene when Lissi said hello to the kitty on your walk.

@Lisithedogwalker 3 месяца назад

I had to!!!😻🤍🙏

@twhitten828 3 месяца назад

Wife is Beautiful!

@diannemc3179 3 месяца назад

Love her sun dress.

@DavidClark-vu3dw 3 месяца назад

Oh, she's contributing to the video alright. 😅

@mikesrandomvideos 3 месяца назад

@@DavidClark-vu3dw when Mike said she was not going to contribute to the video....I was like Ummmm you just dont know.

@TaterPS 3 месяца назад

Yea, Michel is punching way above his weight.

@Lisithedogwalker 3 месяца назад

@@DavidClark-vu3dw😂😂 I can’t. I am not as natural as Mike to speak in front of the camera 🙈 Thanks for watching David!🙏❤️

@Resmith18SR 3 месяца назад

California is the most scenic and beautiful state in the U.S. It has mountains, beaches, desert and, just about every climate you would want. That's why the wealthiest people from all over the world want to live there.

@Scorpio1060- 3 месяца назад

I have traveled all over the United States for over 50 years and there’s lots of great places to visit, but as far as a place to live, nothing beats California.

@veronicapadovani4243 3 месяца назад

Colorado is too ,

@Resmith18SR 3 месяца назад

@@veronicapadovani4243 Veronica, No ocean views and no beaches in Colorado.

@Resmith18SR 3 месяца назад

@@Scorpio1060- Especially if you're wealthy.

@Lulusvideos1 3 месяца назад

Yeah unfortunately for us native Californians, too many people from around the world move here and drive housing prices through the roof!!

@deep6301 3 месяца назад

I got an ARM and lost my home in 2008.

@ggbice 3 месяца назад

Beautiful area, enjoyed the video Michael. Thanks for taking us subbies on your vacation 🙋🇺🇸

@9999deoxys 3 месяца назад

She is contributing by waving and saying Hi. :)

@guzmancharles7 3 месяца назад

Can ppl be that stupid they don’t realize that goes into National Debt, Then we all pay.

@Lisithedogwalker 3 месяца назад

Hiiii!!!🤗 Yes, I cannot talk in front of the camera, I am way to shy 🙈 but am very talkative when in person unlike Mike 😂😅 I just want to join him on this beautiful walk and enjoy my time off from work next to him as much as I can!🥰 Thanks for watching and supporting his channel!🙏

@9999deoxys 3 месяца назад

@@Lisithedogwalker OMG!!!! What a beautiful response. Mike is a lucky guy.

@crossthread42 3 месяца назад

Happy DEBT DAY, No truer words spoken..

@DanielWilderman 3 месяца назад

Anyone who accepts an “adjustable” mortgage knows exactly what it means. Stupidity is its own punishment.

@globalfamily8172 3 месяца назад

Some of us do not want to stay in the home forever.

@CommanderRiker0 3 месяца назад

In some cases they are better. Really just depends on your situation and macro environment

@cassandrawright-mq5kp 3 месяца назад

Sorry, no. My friend had zero idea what APR mortgage meant. She was one, of tens of thousands, who were 'egged' into buying a house who had only lived in rentals her whole life, during the "Housing Boom." (Then, the 'boom' burst.)

@John1908-vo1iv 3 месяца назад

@cassandrawright-mq5kp you friend should've read a little bit about ARMs, home ownership and associate maintenance costs and really is her fault. There is so much research anyone can do for free on the internet and can educate themselves. Not everyone is meant to be a homeowner. People bad with finances are better off renters.

@cassandrawright-mq5kp 3 месяца назад

@@John1908-vo1iv Yes, she knew she'd been 'sold a bill of goods.' She wanted her kids to have a home, a yard of their own. As she told me, "I didn't want them to be raised with the idea they were apartment rats." I don't require lectures about her mistakes or judgmental picking apart. SHE, like thousands of others were 'conned' by unscrupulous lenders with easy flowing cash, real estate sharks out for fast commissions, smooth talking agents and ALL the rest who caused the "Housing Bubble." She is deceased, her house is paid for...by her, alone. All of her sons are current homeowners. She did well.

@johnnymidas5879 3 месяца назад

WELCOME BACK TO CALIFORNIA..115° TODAY IN THE DESERT.. HAPPY 4TH EVERYONE!! 🔥🏜🔥

@Lisithedogwalker 3 месяца назад

Happy 4th!❤️💙🤍Omg 115!!!!🥵😳😱

@johnnymidas5879 3 месяца назад

@@Lisithedogwalker THANKS LISI, AND WELCOME BACK TO CALIFORNIA 🌴🌄🌴 ❤

@Lisithedogwalker 3 месяца назад

@@johnnymidas5879 YaYyYyY!!!🎉🤩😎🎶

@tessramos8828 3 месяца назад

Dear Michael 🌻 You have some very sound advice Thank You 🌆

@New-bw4kz 3 месяца назад

Its summer,its hot everywhere..

3 месяца назад

Fantastic presentation Michael. Absolutely love the scenery with all those majestic Redwood's Thankyou for you're ongoing Crusade of realistic, factual information. Cheers!! from Queensland, Australia

@loribruno6389 3 месяца назад

Hi Michael, down here in South Florida, roasting!

@dertythegrower 3 месяца назад

south florida born... i sweat in my house last night in Northern Michigan.. i know heat heh

@loribruno6389 3 месяца назад

Still dodging hurricanes...

@MichaelBordenaro 3 месяца назад

Oh yeah, I know as hot as it is here. It’s worse there.

@plica06 3 месяца назад

That neighborhood looks so nice with all those mature redwood trees growing right beside people's houses.

@Daisy-yr6ez 3 месяца назад

Palantir stock is stuck in a debilitating downtrend and looks just attractive for a long-term investment once the short-term volatility and smoke settle. Right now i'd appreciate suggestions short-term opportunities that could fetch $50k or less..

@Charlotte-ew6sw 3 месяца назад

Don't be in a hurry to get back in. The market needs several days of strong performance to signal that the downturn might be over; It's a time to be largely, if not entirely, in cash

@ramosace 3 месяца назад

I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too

@Sophia-bt2uh 3 месяца назад

I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.

@ramosace 3 месяца назад

My CFA ’ANGELA LYNN SCHILLING’ , 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.

@Sophia-bt2uh 3 месяца назад

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

@HPM619 3 месяца назад

Michael, when I first started watching your videos, which was probably a couple years ago, I thought “hmm this is a little strange, the guy is walking around the whole time while he talks…?” Now I’m addicted! I love your format so much more than the typical format most use.

@SO4JTV 3 месяца назад

Always great to see Lisi by your side Michael! Welcome back to CA 👋 .. Here in O.C. it was 75 degrees at the Huntington Beach July 4th Parade (largest parade here on the west coast). Hope you two can sneak down to OC this time (?) .. safe travels !! 😊🌴☀️🏄‍♂️

@Firehorse39 3 месяца назад

Happy Independence Day Michael and wife and all !

@Lisithedogwalker 3 месяца назад

Happy Independence Day to you as well!🙏💙❤️🤍🇺🇸

@zeldamoore8371 3 месяца назад

Beautiful scenery

@Everythingiskeane 3 месяца назад

116 here in lancaster CA...aahh, beautiful lancaster...come for the heat, stay for the twilite zone. To quote William Shatner "will we be able to get out of here today".

@Lisithedogwalker 3 месяца назад

😱🥵

@Juliet875 3 месяца назад

An ARM is not good for everyone, those people will certainly be struggling. Happy 4th Michael and Lisi!

@MichaelBordenaro 3 месяца назад

Happy Fourth of July, Juliet!

@Lisithedogwalker 3 месяца назад

Happy 4th Juliet!🙏💙❤️🤍😻🫶😘

@freightrescue1859 3 месяца назад

Michael good for you for having your family with you in these videos. Keep up the good work.

@994pt4 3 месяца назад

Parents around me always using their kids as excuse to buy things like skis, mountain bikes, trampolines, etc and go on multiple vacations, concerts, out to eat, movies, etc but then bitch how much everything costs. It's insane!

@HoneyBadger80886 3 месяца назад

Lol. Consumerism isn't a sport.

@nneisler 3 месяца назад

Gotta keep up with the neighbors!

@blackworldtraveler3711 3 месяца назад

I remember many using kids as an excuse to buy big SUVs in the 90s. Even to this day people forgotten all about bunk beds and buy homes with one bedroom or one bed/bath per child.

@994pt4 3 месяца назад

@@blackworldtraveler3711 exactly...me and my 2 brothers shared a room growing up. Not kids these days!

@stephanmarcouxdrums4877 3 месяца назад

@@994pt4 Well, maybe you are confusing certains aspects... If I'm working hard to have a decent life, I will have money for it. Now that I have my money, I'm going to use it for my familly, especially my kids. The fact that I can pay for a bicycle, a hamburger at Mc Donald or a movie, it really doesn't mean I cannot bitch about the high price I'm paying for all of this. Because we are living for few decades now and I remember the price it was before, even in the 80's. Your point is to not buy anything to have the right to bitch about the price of something, which I completely disagree with obviously. Your own reference from your own past and f-top familly and childhood isn't something to take into consideration here.

@edhammond6911 3 месяца назад

Michael nails the truth on so many points,we should all watch it twice.Good to see your family with you !!

@Lisithedogwalker 3 месяца назад

❤❤❤❤❤

@mulatto2776 3 месяца назад

It's not about taking your kids to Disney World. It's about the ability to brag to your friends and family about how you took your kids to Disney World.

@TheWolferinDenver 3 месяца назад

You just described Facebook. Bragbook

@michaelpowell7120 3 месяца назад

..............and we are interested to see the videos and stories of Gay Micky 🏳‍🌈

@Litterbaux 3 месяца назад

Disney sucks. $180 dollars for admission, $10 bottle of Coke and you get to wait in lines all day to ride 4 rides. Yeah you can get the fast pass or whatever they call it now but you're still only going to ride a handful of rides per day. Total waste of time.

@conniepitts8392 3 месяца назад

@@michaelpowell7120 Actually I couldn't give a care .....less , were you dropped on your head as a baby😢....

@itechfive240 3 месяца назад

@@mulatto2776 Your damn right but I can't take the money with me and my little ones have so much fun in the moment.

@schahrzadmorgan 3 месяца назад

It's beautiful weather in San Diego. Looks beautiful where you both are

@Lisithedogwalker 3 месяца назад

It’s very nice here.😍 We also visited San Diego once and I spent my bday over there.🎉 Thank you for supporting his channel!🙏❤

@borlanderobertson5666 3 месяца назад

Hey Mike N Lisi. Glad you made it west. ❤

@Lisithedogwalker 3 месяца назад

Hiiii!!!🤗❤️

@twobytoo22 3 месяца назад

Very Nice Video Location, l love those Big Redwood Trees like our Mountain Ash the Giants of the Forest in Oz. Great Subject Matter Too. Thanks Michael and Lizzie 🍻😁👍

@OOMAN 3 месяца назад

We rolled the dice on a 5-year ARM back in 1993. We got lucky that we were able to refinance at a similar 30-year fixed rate than the ARM wanted to jump us to. Refinanced later to 4.25% and riding that out!

@LoveMyRottweiler1 3 месяца назад

Welcome to California, I was born and raised in a little town about 20 miles East of downtown Los Angeles. Happy fourth of July...

@b-villeboy2704 3 месяца назад

Love to see Lizzy back on the show.

@Lisithedogwalker 3 месяца назад

Thank you so much!🙏🤍 I am happy to be here even though I don’t contribute 😅😆😂🤣

@b-villeboy2704 3 месяца назад

@@Lisithedogwalker To be quite honest ... you both offered up a very enlightening & entertaining vacation video ... I believe it was the B&B house. A real look into vacation rentals ... well done by both of you guys :)

@Lisithedogwalker 3 месяца назад

@@b-villeboy2704 Well, thank you! Nice to know you happy with the channel!🤍🙏☺️🤓

@stevo19911991 3 месяца назад

Excellent advice. I’m 57 years old. This is how I think. Good job again

@bizmanspacelife18 3 месяца назад

Great video Mike you should head down to San Diego County weather is paradise.

@AboutFace-gq1tx 2 месяца назад

Very well explained, accurate and true with a big dash of integrity and caring for the American people i say this from NW Ontario Canada where a fixed mortgage only has a maximum of 5 years, before renewal.. you have 30 years, you are blessed , when interest rates were low.. Great job, so well done.!!

@mohhingman 3 месяца назад

Thanks Michael

@suniskys78 3 месяца назад

Hello to Wifey! So sweet giving some love to the little kitty 🐈🤗

@Lisithedogwalker 3 месяца назад

Hello there!🤗😻

@senmcquire 3 месяца назад

I Laughed so hard when I read that article. Can’t fix stu pid. 🤦🏻‍♂️🤦🏻‍♂️😳🤣 A Loan Officer forgot about her Mortgage in the home she lives in. What a joke. Loan in 2016 and didn’t swoop up 2% Fixed in 2021. No the Smartest LO.

@MichaelBordenaro 3 месяца назад

It is really dumb . The stories keep getting funnier.

@chihuahuaverde425 3 месяца назад

Maybe its like how "the mechanic's car never runs".

@cylonvoiceguy 3 месяца назад

All interest rate talk aside; your wife is super elegant and a cat lover too!

@mattl1758 3 месяца назад

My wife and I have been looking for a small vacation home up north. I told her this exact same thing. “Adjustable rates are going to start adjusting”. I look to the fall for a lot more homes to be on the market

@User122-qi6md 3 месяца назад

Great idea, we are doing the same

@unbotheredbklyn2789 3 месяца назад

Taking a home buying seminar is fundamental. I took it twice before getting my home. Best decision ever. It helped me make a well-informed decision.

@John1908-vo1iv 3 месяца назад

You can also learn that for free by researching the internet, getting preapproved, putting offers, going through inspections. Hope you did not pay for that seminar.