Does this work the same using a HELOC?

speed up the video in settings, helps tremendously

I think this method can work for some people, in theory. However, here are some potential barriers I see: 1. If you are someone who is in a lower income bracket, and already struggling to make ends meet, and/or have less than perfect credit, and you're caught in the cycle of desperately trying to catch up enough to breathe a bank is likely not going to extend you a line of credit. 2. Not everyone who can get a line of credit, does their banking at the same place their mortgage is funded through, so the instructions to the bank employee to apply the line of credit payment to your principal mortgage balance may not be an option, unless you're calling your mortgage company directly with a credit card number and speaking to a mortgage rep. Lastly, I absolutely understand the concept of not wanting your money to just sit in a savings account with a lousy interest rate, nut there are many high yield savings accounts these days offering over 5.6% APR after a certain minimum deposit is met, which varies from bank to bank. I feel like its a dangerous game teaching people to pay all their living expenses with a line of credit ALL of the time, and as soon as they pay that debt off to run and charge $12K, even if it is to pay off the mortgage principal. You're still in debt, you're just playing musical chairs with it.... potentially at 21% interest or higher.

What about the 21 percent interest in the remaining balance on the line of credit

The only thing is, on your example is you need to reduce your monthly income by less than 27 percent for taxes

Great

200k must be nice try like 600k

BANK OF AMERICA always give me a 0% 14 months and I can lower my mortgage interest way faster. from $1300 to only $360 pure interest. a drastic money savings.

Today in Canada 200k not enough for down payment!

Get to the point

Any one watching this delete this from your watch list NOW!!!! This is Really bad advice #1 using a maxed out revolving credit account as she is suggesting at such a high APR is retarded to began with. If you want your credit score to start to tank hard core go ahead and try this. This technique is VERY High risk according to the Credit bureaus your credit utilization will go too high lowering your credit score! #2 This video is Very old and currently in 2025 you are unable to pay any of these accounts with a credit card Checking or savings only! cash advances are only about 1/3rd of your credit limit I am done watching this gal

She is soooo HOT! 🤩🤩🤩

I was very close to pay off my mortgage, but my wife started complaining that she needs a larger and newer home, because kids are growing up and need more rooms. All my strategies for paying off the mortgage ruined I sold it and financed the second house. now I have to go all the process again. Good luck folks

Hi mate so excited today just reached my goal of 400k since June2024 to Jan 2025 I thank GOD for the life and wisdom shared

Most home loans and your cars will not take Credit Cards. If you open a small business and use a Credit Card processing to be able to put in your account. You can also use the miles you get to pay your payments that would save you even more money.

Hey Laura, It looks like you’re not active on here but hope you get this. I have zero credit card debt but a $56,000 credit line on my Alaska Airlines card. I owe about $412,000 on my mortgage and the payments are $3050 per month. I have no student loans or car payments and my income is over $150,000 per year. Suggestions to pay off this mortgage asap?

The problem is most loans when paying off a car or mortgage do not allow you to use a credit card. And if so, what credit cards are there?

There is something i dont understand you still need to pay your monthly payment for your house loan. Thats the part a dont get its great to put 12k and paying off your line of credit every month

How many house you have? U r far from real life $60k annual salary? Is this gross?

I don't think is to complicated and it's definitely a complex science Just pay it off ASAP PAY That's it

$60k annual salary - or $5k monthly (pre-tax) take. She takes NO ACCOUNT into payroll tax deductions! Her whole argument goes down the toilet for monthly expenses on $60K Salary. 😂😂😂

ROI to own a house, a monthly payment should be added to the down payment and furnishing cost. For controlling the apartment or house, you should add the renting payment to the furnishing cost. The math doesn't adds up !

Not sure if rules are different in US but you can't use a credit card to pay your mortgage in UK, you have to pay from a debit bank account. Also, this method relies heavily on someone having a decent savings pot every month, which if you had it, you probably wouldn't be entertaining this video anyway as your not feeling the pinch.

ok, I see a stick figure in the top left corner, but what else? 😂😂

SO pay your debt off pay off small account first and make large sum payment after to house, snowball your debt and pay it all off debt. Dave Ramsey ?

THANK YOU for the help

U need to add more light for your videos .

Why can't you just add that extra money towards your mortgage

Why would U try to do this when U can use this to make more money & pay less tax ??????????

If you wanna skip ahead 20 minutes in is where she starts what she was supposed to tell you which is to pay your house off sooner

If you take 12K loan, you just don't return 12K, you essentially return 12K+21% APR with it. Moreover, if you can save 12oo per month, why will you only pay minimum to your line of credit, does not make sense. Sorry, not worthy assumption / calculation...

I love these videos. But the majority of people barely can make the minimun payment of their mortgages.Why keep making videos, when people in reality can't do this. 🤦🏼‍♂️

I guess for a woman thats easy, shake ya ass, watch yourself, shake ya ass, show me what you working wit!

Hi Laura… how can we contact you??? I really need your help assistance

Before I realized this video was posted 7 years ago, I almost spit out my drink when whe said the average cost of a house in America is $200,000

Win the lottery 😂

Does this work if your kid is 18 plus? Or if you cousin/ nephew is out side of USA?

Why not just save money for that time and pay cash if it's actually that easy

I would like to know more about the line of credit

Hi Laura, your video is very informative thank you 🎉❤😊

It's time to acknowledge that a return to 3% mortgage rates may be unrealistic. If homeowners are forced to sell, we will likely see a drop in home prices, leading to lower property valuations. I know I'm not the only one who shares this outlook_

This vedio is a life changing. Thank you for your valuable free information.

Very helpful. I don’t have children but I’d like to help my nieces and nephews

Ah, ever hear of income taxes? You don’t pocket $5,000/month.

She lost me at the average person makes $56,000 a year. Not sure what world she's living in.

Where is the course where she learned this?

I see there are other few spreadsheets mentioned in the video, do you mind sharing a link for those?

Money that people suppose to save on a saving account for a rainy day very often can be quickly spent. Most of people have tons of unpredictable situations. The "$1,400" that suppose to decrease your credit card balance very often are dissolved on a monthly basis.. It's so silly to count on this. Extra income that goes directly to pay the principal can definitely help !!!!!!!!!!!. The question is where to get that extra income without completely draining yourself, especially when you are a student or a young parent with a couple of kids. LOL Your numbers are unrealistic!

She totally forgot about taxes. After taxes those paychecks are way less. Lol.

Very simplified version full of inconsistencies. 1. Property taxes did not get taken into the account. 2. Living expenses are very low. 3. 60k a year does not mean 5k a month after paying federal etc taxes. Take home amount is so much lower. 4. Amount going into paying off principal keeps going up every time a payment is made. So, $250 every month for the first year into principal is not the right amount.