How to pay off a 30 year home mortgage in 5-7 years

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SUMMARY:
In the above video I reveal a powerful strategy that is practically available to all, but is known and fully understood by a very few. If one takes the time to learn and implement this method of eliminating debt, one may find themselves pleasantly surprised of how quickly their home mortgage, auto loans, student loans or business loans can be completely paid off.
In the video I will demonstrate how a banking strategy can be used to pay off a 30 year home mortgage in just 5-7 years without sending double payments to the bank or changing one’s current level of income.
RECAP OF THE VIDEO:
I start off by creating a scenario of a financial situation by taking an average household net income in the United States combined with some of the basic monthly expenses: home mortgage, minimum payment on a credit card, car payment and living expenses which include groceries, utilities, gym membership…
Once all expenses are identified and subtracted from the net monthly income it is important to understand the impact of cash flow, the difference between a loan and a line of credit, how the interest of a loan and a line of credit is calculated, and how monthly payments on a mortgage are dispersed between interest and principal paydown. To help demonstrate these differences I create tables and an amortization graph. As I go on to unveil the main differences I also identify the biggest reason why nowadays most homeowners are unable to payoff their home mortgages due to the unstrategic use of home refinancing.
By this point having had identified the difference between a loan and a line of credit I can reveal the benefits of utilizing a line of credit to pay off a home mortgage in 5-7 years. This is where I get into the banking strategy which incorporates an unaccustomed method of moving one’s entire monthly paycheck into a line of credit instead of the accustomed checkings and savings accounts. By adopting this method one can leverage a line of credit to free up cash flow, gain cash back rewards, build credit history and improve credit score, but the greatest leverage created is the thousands if not hundreds of thousands of dollars in interest savings.
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DISCLAIMER: I (Laura Pitkute) am not a financial advisor, real estate broker, a licensed mortgage broker, not a certified financial planner, not a licensed attorney, and not a certified public accountant, therefore please consult with a competent professional prior to engaging in any financial strategies. Not everyone will experience 100% success rate by using this strategy as it requires a commitment to keep applying this strategy over time until the desired result is achieved. I (Laura Pitkute) do not promise or guarantee any specific outcomes and/or results from the use of this strategy.

Опубликовано:

13 ноя 2017

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Комментарии : 16 тыс.

@laurapitko6404 5 лет назад

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: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-vwxaVwjxyZg.html

@marthasmith6836 5 лет назад

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 лет назад

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

@MrChico809 5 лет назад

@@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 лет назад

DeezNaffs thanks

@deidrarichards5801 5 лет назад

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.

@aqin713 3 года назад

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

@AndySandyBe 3 года назад

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

@MyOzempicJourney 3 года назад

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

@splitrockrentals338 3 года назад

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 года назад

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

@superstar8312 3 года назад

thank you

@CatherinMalett 4 месяца назад

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 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.

@LucasBenjamin-hv7sk 4 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.

@lowcostfresh2266 4 месяца назад

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

@LucasBenjamin-hv7sk 4 месяца назад

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.

@elvinroleplaypreglbhe139 2 года назад

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 года назад

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

@macherie9554 Год назад

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 Год назад

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 Год назад

@@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 Год назад

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 Год назад

@@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 Год назад

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

@thenoble3282 2 года назад

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 года назад

Thanks to this amazing team Their services saved my life

@prissybaby5256 2 года назад

Thanks to this amazing team Their services saved my life

@mztina1969 Год назад

8. Kjki>I u I 8

@saswat8368 2 года назад

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

@Riggsnic_co 8 месяцев назад

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 месяцев назад

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 месяцев назад

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

@martingiavarini 8 месяцев назад

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 месяцев назад

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 месяцев назад

😮 I would like to know more 😊

@synhackerpubg2182 2 года назад

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

@odithegoldenretriever2158 2 года назад

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... 🙌🙌

@Eliza06 3 года назад

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 года назад

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

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@bentonrp 5 лет назад

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 года назад

Reach out☝ instant profit helped with the bills

@mamaikang5698 2 года назад

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 года назад

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

@patsfball3710 Год назад

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 месяцев назад

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

@christywhitley6053 2 года назад

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 года назад

Reach out☝ instant profit helped with the bills

@opichocal 5 лет назад

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 года назад

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 года назад

@@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 года назад

@@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 года назад

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 года назад

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

@emretetik7804 2 года назад

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

@odithegoldenretriever2158 2 года назад

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... 🙌🙌

@laurelleafr6091 3 года назад

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 года назад

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

@instantprofitorg541 2 года назад

Reach out☝ instant profit helped with the bills

@mariekarole1621 Год назад

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 Год назад

Intrested

@Vchemsilabratvpravde Год назад

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...

@cintyakireina7f285 2 года назад

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 года назад

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... 🙌🙌

@garyfarrell4076 2 года назад

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 года назад

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

@janicechiaretto7082 2 года назад

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 года назад

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.

@SheilaYilmas 6 месяцев назад

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 6 месяцев назад

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 6 месяцев назад

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 6 месяцев назад

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 6 месяцев назад

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.

@bobguy6542 5 лет назад

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

@victormorales2408 5 лет назад

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

@bobguy6542 5 лет назад

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 лет назад

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 лет назад

56k most common income o,o

@shredgod6394 5 лет назад

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.

@anna_kendrick 6 месяцев назад

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 6 месяцев назад

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 6 месяцев назад

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 6 месяцев назад

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 6 месяцев назад

@@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 6 месяцев назад

@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.

@NicKennelty 2 года назад

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

@chiera5152 2 года назад

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.

@royaltyfreerocks6883 2 года назад

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 года назад

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... 🙌🙌

@Quillamita 2 года назад

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!

@whisp4999 Год назад

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.

@AlcidesGutierrez-ob5dk 11 месяцев назад

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

@paulphelan6249 3 года назад

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 года назад

this is a gold comment.

@tiffanylove5502 3 года назад

Thank You Paul ☺️.

@daryutube1 3 года назад

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

@TheGayStoic 2 года назад

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

@lilyvonbulo9636 Год назад

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

@Thebackyardneighbors 5 лет назад

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!

@jewellcorley1645 2 года назад

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 Год назад

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

@vinaypanchal4021 2 года назад

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!

@TheTytiaunna 2 года назад

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

@radeeshabrown8744 6 лет назад

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 лет назад

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

@BroadcastingEssentialMusic 6 лет назад

Yes yes!!! It was a good video

@Damascuss07 6 лет назад

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 5 лет назад

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

@iris5517 5 лет назад

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

@sadkarslan4445 2 года назад

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 года назад

Reach out☝ instant profit helped with the bills

@sunnydeborahsebastian1361 2 года назад

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

@tiktokmagazin3794 2 года назад

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 RU-vid ! 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 7 месяцев назад

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

@garygates2537 3 года назад

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 года назад

Contact john_mcnees on Instagram or mail him on johnmcneese067@gmail.com or +12512396384 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.. you can as well check his website newtomorrow.net His fast and reliable .

@JasonBollinger-ws4xg 6 лет назад

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 года назад

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

@instantprofitorg541 2 года назад

Reach out☝ instant profit helped with the bills

@heyokannika1207 2 года назад

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

@BlitzY494 2 года назад

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

@leorahim6268 Год назад

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.

@mexolexo 6 лет назад

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 лет назад

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 лет назад

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 лет назад

I recommend you pay the vehicles first.

@toriless 6 лет назад

@latridic 6 лет назад

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

@wisewealthrealestate6782 6 лет назад

wrong math

@wisewealthrealestate6782 6 лет назад

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

@wisewealthrealestate6782 6 лет назад

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

@southcountyman 2 года назад

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

@onyennanna9732 2 года назад

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 года назад

Reach out☝ instant profit helped with the bills

@christinec1928 6 лет назад

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 лет назад

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 лет назад

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 лет назад

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 лет назад

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 лет назад

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??

@ericclaeyborn3600 2 года назад

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 года назад

Reach out☝ instant profit helped with the bills

@priyantha0 2 года назад

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

@user-vv9lv2fm2n 2 года назад

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

@guntodd 6 лет назад

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

@msjennable 6 лет назад

Amazing video!!!!

@toriless 6 лет назад

Do that math! $1200 to loan plus $3000 from LOC to loanequals $4200 per month time 12 equals $50,400 in payment. it is a scam!

@jaysonbilango6171 2 года назад

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

@betswilford1627 2 года назад

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

@bwsuggs1 3 года назад

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

@bloomscode3825 2 года назад

love it lol

@Keabrown79 2 года назад

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

@zachmullins9444 2 года назад

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

@_Solmega 2 года назад

My EXACT thoughts. Huge oversight.

@Foxeycop 6 лет назад

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 лет назад

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

@Foxeycop 6 лет назад

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 лет назад

you are very smart and hardworking guy.

@tcjohnson3437 6 лет назад

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 лет назад

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.

@najeebammir1446 2 года назад

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.

@NormyTres 3 года назад

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.

@margaritamartasin4902 6 лет назад

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 лет назад

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 лет назад

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.

@oliviasnyder9991 6 лет назад

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 лет назад

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 лет назад

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 лет назад

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 лет назад

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 лет назад

Olivia Snyder ok thanks so much!

@3ltomy 4 месяца назад

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 😊

@cheryljacques5558 2 года назад

That was amazing! Thank you!

@leetravathan 5 лет назад

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 лет назад

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 лет назад

How do you pay mortgage using a credit card?

@wisewealthrealestate6782 5 лет назад

video flawed. but extra payments always work.

@shannonbailey777 3 года назад

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

@progressumintegrated4260 2 года назад

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

@aabatez1 2 года назад

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

@RobFomenko 6 лет назад

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 лет назад

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

@lisapezzella522 6 лет назад

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 лет назад

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 лет назад

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 лет назад

"Hey guys, it's me, Armandine - totally not-spammer, just your average multi-millionaire cruising RU-vid 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?

@ChanelChase 6 лет назад

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

@armandinejacotin6706 6 лет назад

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

@toriless 6 лет назад

It does not work.

@whoaskedforthisbs 5 лет назад

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

@bluetulip2771 5 лет назад

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.

@TejanoTasRadio 2 года назад

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

@DmarilynB 2 года назад

Amazing advice. I have thought about this and never explored it. So wise!!!! Thank you

@redgear4566 6 лет назад

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

@albertoperez1947 4 года назад

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

@hibarixv1155 4 года назад

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

@minttea3973 2 года назад

Loved your video and I will be watching you ❤️

@ainsleygauntlett3059 2 года назад

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

@627horsepowers 6 лет назад

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 лет назад

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 лет назад

Given this RU-vid 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 лет назад

627horsepowers agreed

@frostydigital9090 6 лет назад

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 лет назад

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.

@jamesrios4069 5 лет назад

If you already know how amortization and simple interest work, jump to 20:00 .. You’re welcome.

@nathanielbuck5042 5 лет назад

Needed this 20 minutes ago. Haha

@howardjames9543 2 года назад

You are a genius. Thank you I need to watch it again now.

@davidaroberts8232 2 года назад

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

@Hogster202 5 лет назад

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 лет назад

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 лет назад

Walt Whitman You are wrong

@Hogster202 5 лет назад

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

@Hogster202 5 лет назад

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

@Damascuss07 5 лет назад

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.

@johnmarler6735 3 года назад

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

@yummyra6522 3 года назад

Lolol

@duperfastEUC 3 года назад

@Domfeh Mensah can he fix my drug problems too?

@lg8365 3 года назад

Lol🤣

@everythingphalone 3 года назад

😂😂😂😂

@thebarndochick4270 3 года назад

Seriously... this is painful.

@Authentic-Israelite 2 года назад

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

@hurdelrennie986 2 года назад

Thanks for that demonstration on how to pay off your mortgage in 5-7 years , I do wish I could have it on paper so I could get a better understanding .

@Krymoff 5 лет назад

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 лет назад

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

@emmanuelsepulveda2468 5 лет назад

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 лет назад

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 лет назад

I did that one time and it works.

@bookeens 5 лет назад

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

@dianef298 3 года назад

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 года назад

BUT YOUR HOME IS A CHEAP SHED FROM HOME DEPOT

@josephstrongbow5522 3 года назад

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@jojomarie7446 3 года назад

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 года назад

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

@flipnotrab 3 года назад

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.

@mcviegas2566 2 года назад

You explained this very, very well. Thank you.

@phithagna 4 месяца назад

Thank you so much You are so clever! So clear explanations!!

@markman63 3 года назад

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

@adriancaldwell 3 года назад

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

@twinklefairy5122 3 года назад

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

@bluefan651 3 года назад

That's a great idea!!

@Jons007 3 года назад

Bastards charged me more!!!

@WheelerRickRambles 3 года назад

What’s the address?🤣🤣

@forestdweller8164 6 лет назад

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 лет назад

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 лет назад

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 лет назад

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

@armandinejacotin6706 6 лет назад

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

@normasaavedra6927 5 лет назад

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!

@RosaG77799 2 года назад

WOW! 🤯🤯🤯AMAZING PRESENTATION! UNDERSTOOD IT ALL. THANK YOU SO MUCH

@shotta876gazaempire8 2 года назад

Love this as I am currently using this formula 💪🏾

@luvknottsjilldavis6477 5 лет назад

Laura! This is an excellent video! I commend and thank you! This information can change lives for those who can receive it. You could have charged for a class like some of the others that won't give out the nitty gritty without a charge. (As you can see, some people need to be charged before they can appreciate life changing information.) I sincerely thank you for being so wonderful and giving! It is life changing for me, and I'm sharing this video with all my love ones; children and grandchildren. Sharing this with our youth is phenomenal.

@paimei7988 4 года назад

Jill, as far as I know you cant pay a mortgage payment using a credit card, same goes for auto loans.

@darcelcollinson6818 4 года назад

I agree, it was simple enough to follow and I appreciated her free lesson. I’m indebted to her for her insight, thank you Laura! Much appreciated. DARCEL, Vancouver, Canada

@tonyjrod88 2 года назад

Perfect explanation and very soothing voice too. Thank you for taking the time to do this.

@manchesterunitedstandusa4877 2 года назад

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

@Airborn14 6 лет назад

Jump to 20:00 for the HOW TO.

@TampaTec 6 лет назад

thanks

@timcarranza8077 6 лет назад

Not all heros wear capes!

@rjdodgerz2776 6 лет назад

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

@claudetteclouatre5408 6 лет назад

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

@bobbyjames1714 6 лет назад

Diego Almora You're the man

@NatelegeMalene 6 лет назад

This is an excellent tutorial!! Thank you very much

@Lowbecca 6 лет назад

It doesn't work, You would be better off just putting the money into the mortgage instead of using the credit card. over the 6 month period you would pay around $750 in credit card interest which is more than the interest you pay on your mortgage

@armandinejacotin6706 6 лет назад

Lowbecca, most people pay more than that 750 monthly in mortgage interest, especially in the first 15 years or so of having a mortgage. 750 in 6 months to save you at least a couple of years in interest payments of around 750 monthly. Why do you think Laura is getting so much traction for showing people ho to pay that heavy burden of a debt.

@Lowbecca 6 лет назад

Armandine, The $750 is additional interest you pay to the credit card company. You are better off paying all of that money into the mortgage which will reduce it quicker. Laura is whats called Clickbate. look at the comments. most are about her looks and like most here I thought this was a great idea till I looked into it and found out that the numbers don't stack up.

@Lowbecca 6 лет назад

Paying off in lump sums charged to your credit card would only be beneficial if your credit card apr% was lower than you mortgage interest and since the plan is to pay it off in 6 months the difference would be marginal.

@Lowbecca 6 лет назад

Put the $2,000 each month against your principle mortgage loan and you will save more time and reduce the number of interest payments further. An alternative is to put that money into a government backed bond which would pay you more interest than you are being charged by the bank. Ave mortgage rate 3-5%. Ave Green Bond 8%.

@marilenevicentini661 2 года назад

Thank you so much! Very helpful 👍🏻🥰

@indiradeja4218 2 года назад

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! 🤗

@maplemumbai 4 года назад

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 года назад

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 года назад

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 года назад

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.

@White0523 6 лет назад

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 лет назад

Loan 😉

@White0523 6 лет назад

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

@asialynn3845 6 лет назад

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 лет назад

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?