Is This A Good Reason To Keep Our Mortgage?

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Опубликовано:

3 дек 2022

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Комментарии : 77

@MidwestMoney Год назад

I remember the day I went into the bank to pay off my mortgage. The look of disgust on the mortgage banker and the smile on the teller's face. Priceless.

@jaywalk6628 Год назад

"I sure miss paying a mortgage" said nobody EVER!

@mandysimmons2769 Год назад

We are paying ours off late December on our anniversary day. Yay.

@Longjohnsilver58 Год назад

“It’s amazing how they prey on the…uh…fear…”. Nice save. We all thought you were going to say stupid.

@Chanesmyname Год назад

In the UK you can ask the land registry to monitor your home deed and title and alert you if anything happens if you worried about fraud.

@myraterry9774 Год назад

A wonderful feeling to not have a mortgage and be debt free!! You can now save or purchase something with the funds you used to pay the bank!! A no-brainer!!

@Devinfrbs Год назад

Canadian here - it works the same. This advice is accurate

@SlayerDork Год назад

One difference if I recall is Canadians don't have access to 30 year fixed mortgages with rare exceptions. If I recall correctly the maximum is 25-years because insurance coverage.

@imtiazferdous2886 Год назад

@@SlayerDork i have a 30 year mortgage in Canada.

@SlayerDork Год назад

@@imtiazferdous2886 Is your interest rate fixed for the whole 30 years or can it change during your mortgage term?

@imtiazferdous2886 Год назад

@@SlayerDork change.

@SlayerDork Год назад

@@imtiazferdous2886 Well that is really unfortunate in times where interest rates are increasing.

@simonthebroken9691 Год назад

She's talking about title theft. It's the fastest growing organized crime in the U.S. which is really difficult. Identity theft coverage will not protect you. You need title theft insurance. I'm not for keeping a mortgage though. Pay it off asap.

@LisaSimplified Год назад

I got the same advise and I live in the US. The reason was not to protect from fraud but as an investment strategy.

@mediolanumhibernicus3353 Год назад

I love the rapport between Rachel and Dave. It’s a real pleasure.

@waynebersch9150 Год назад

Go to your county clerk and have your phone number put on your record with instructions that you must be called before any changes/transfers are made.

@blackworldtraveler3711 Год назад

Or have title insurance.

@mrsmith1339 Год назад

My County advises when there is any activity remotely regarding my property based on location and my name. There have been several filings with the county on other Smiths and of course these were always other locations.I appreciate the notices.

@nualanicghearailt8011 Год назад

Rachel smiles and says to Dave ‘You complimented a bank!!’ Brilliant 😊

@goodgirlsguide Год назад

It can be done.

@pauljensen4773 Год назад

Dave is behind the times here. It is way more common with new tech and electronic signatures to get this done.

@rayn1ful Год назад

is Zander Insurance available up here in Canada?

@mclogan76 Год назад

I started working with a retirement professional at Northwestern Mutual and was told I should not pay off my mortgage because it’s at 2.75% APR and instead, put it in retirement

@marcroche9324 Год назад

My mortgage. Is 3.65%.. That is cheap money ! ! ! Plus the Taxes, and Home Ins. Is escrowed. They pay it. Easy as it gets...

@Dan16673 Год назад

It's true. Invest it

@robertt9825 Год назад

At 2.75% your money is better off in a 3% online savings account with Capital One. (Obviously better invested at 7-10% investment fund) At least in the savings account it's fully liquid so if the adjustable savings rate changed you can pull it out no problem and toss it at the mortgage if you're into that type of thing. Plus has the benefit of building a secondary healthy emergency fund in case anything went sideways in life

@mclogan76 Год назад

@@robertt9825 so instead of paying off my mortgage as Dave Ramsey would say to do, go against it?

@makatelli 16 дней назад

@@mclogan76 Pay of the mortgage then you can just invest all the freed up money you used to pay for the loan into a a good index fund.

@oldfordman68 Год назад

Of course the banker wants you to keep your mortgage because they are making money every month you carry the loan

@davidkast3587 Год назад

I remember being told that if you buy a house, you should get a mortgage (even if you can pay in cash) because they do a title-check on the home.

@AG-kb7yb Год назад

And you cannot pay to have a title check done without a mortgage????

@ilikeshroomgals Год назад

Bankers love playing the fear game especially in Toronto.

@jacksonsplace9754 Год назад

It's very difficult to commit mortgage fraud. The banker's goal is to have clients to keep the mortgage as long as possible. I feel her banker just invented something for that.

@thomaschew2191 Год назад

I have come to the conclusion that many people want to be in debt for their entire life.

@patrickngure6730 Год назад

Do you have any videos regarding Money Max account by UFF?

@jacobo9611 Год назад

Eliminated my mortgage and couldn’t be happier to take $730 which is cheap for payments

@johndone8045 Год назад

Paying off mortgage early is completely STUPID invest the extra, the money is still there, and more return, thete no risk there

@WinterWind Год назад

Lol I read mortgage as marriage and clicked to hear what dave had to say on that 😅

@deemajor123 Год назад

My FIRST time hearing about mortgage fraud…smh!!! Some people are so gullible!

@ppumpkin3282 Год назад

It happens.

@AC-xq7sx Год назад

What‘s the identity theft insurance called that Dave mentions? I can’t quite catch it. Zender Insurance?

@1CJ6 Год назад

Yes, Zander insurance.

@AC-xq7sx Год назад

@@1CJ6 Thank you!

@Jerry091864 Год назад

I think the banker's reasoning was that, if someone tried to fraudulently get a mortgage, with an existing first and second, they would have to get a third mortgage, which would be infinitely more difficult to get and thus, less likely to happen. Still a terrible argument, but this wasn't addressed in the answer.

@davidmilhouscarter8198 Год назад

0:01 There’s a “good reason” to keep a debt?

@davidmilhouscarter8198 Год назад

Should I keep my auto note so that no one steals my car?

@rickallen9099 Год назад

It's called title insurance.

@ppumpkin3282 Год назад

There could be a recession coming, or you could lose your job, keep the mortgage rather than paying it off. It could help you weather the storm. It's a good safety valve. Also there is title theft in this country. As long as you have a mortgage, whoever tries to steal you title would have to pay off the mortgage first - so it's good protection against property theft. This is especially true if you have a low fixed interest rate.

@lifestream4191 Год назад

That's car salesman gambit. An argument for every answer.

@djpuplex Год назад

I'm sure the good people at Zander insurance will write you a policy to profit from those fears.

@truthseeker6370 Год назад

I'm pretty sure this is the first time I've agreed with you @ K Roddy 😊

@alinatamashevich3354 Год назад

I'm sure most insurers make a profit.

@1CJ6 Год назад

Well yeah... like every single insurance product from every single insurance company in the world...

@stevenporter863 Год назад

Must be a brand new listener since anyone listening more than 10 minutes knows what Dave is going to say. Not necessarily right or wrong, just saying he is firmly in the camp to pay off a mortgage no matter what.

@joeriveracomedy Год назад

The only difference is down payments are accepted in little ham and canucks tickets eh

@christopherstimpson6540 Год назад

Bank says to stay poor and stay unattractive.... okay...lol.

@therealnikrich Год назад

Love dave

@happyman9113 Год назад

My ex wife hates me so much she succeeded in taking my birth certificate and she managed to copy my signature and transferred the good car Nissan Dualis 2009 which is in both names from South Australian numbers plate to Victorian number plates and the police doesn’t know my friends told me she’s committed fraud because she used my signature !!! Just a matter of time before she will be reported and exposed to police 👮‍♀️

@ppumpkin3282 Год назад

Save that card until you need it. Like when you miss a few alimony checks.

@wendyk4565 Год назад

No good reason in my opinion to keep a mortgage

@crew_the3rd Год назад

YMTX is offering a $1.30 dividend for a $1.9 stock. That is over 60%. 🚨📢🚨📢🚨 Can you give your opinion or research on buyouts and special divs. This is linked with a buyout plan. The pay day would be Dec 31st, ex = Dec 15th. This is a super small cap. This is a bio company working on things like Alzheimer, Lewy, and Parkinson's.

@PUBGMobile-ot2sk Год назад

Mines 30yrs at 2.875. I’m not paying it off early, I get better returns on that “wasted” cash in a Roth, which is exactly what Ramsey says… (the Roth part) but I get it, Ramsey is just really “simplifying” it for stupid people.

@jimmymcgill6778 Год назад

What was she saying with first, second, third, fourth? That made no kind of sense.

@1timothydillon Год назад

Solution looking for a problem.

@Mao2187 Год назад

90% of the time, the problem with the Ramsey personalities is that they are too young. They don’t have anything with life experience to add so we have to deal with their flow stopping growing pains.

@lukeharris2622 Год назад

✝️🙏

@LoVe-kl4zl Год назад

Rachel is so naive

@lepoj Год назад

Why would I pay my 2.8% mortgage when I can invest the difference

@JESUSandPoker Год назад

There are spiritual reasons

@lepoj Год назад

@@JESUSandPoker Like what?

@bigshoe84 Год назад

@@lepoj You do you

@blackworldtraveler3711 Год назад

Do whatever works for you. Many already messed up not investing and saving early. I started before I was 15. Paid mortgage off in nine years and still able to retire before 50.