10 HACKS To Pay Your Mortgage Off Early

Pay off your mortgage early with these personal finance tips. Yes, it's possible to live a debt-free life and achieve Financial Independence by paying off your mortgage in the next 5 years. If you are seeking to retire early, these money hacks may be your ticket. Paying your mortgage weekly and making extra payments to your principle can save you hundreds of thousands of dollars in your interest and pay your mortgage off years ahead of schedule.
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[@MalcolmLawsonREALTOR]

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[@Renbacktome]

I have a question for you. What of my husband and I pay 3,120 per month on our mortgage principle.

[@MalcolmLawsonREALTOR]

@@Renbacktome Use the calculator in the video description to see how quickly that would pay off your mortgage.

[@firesign4297]

🤗👍🏿👍🏿 What about ..ROUNDING OFF monthly mortgage payments ?

[@firesign4297]

@@Renbacktome if that's extra😳 You guys have it MADE!🤗👍🏿👍🏿

[@Thermohybrid]

I got a house with 3 bedrooms, 8 years ago, I took all the money from my 2 roommates and put it towards my principal, I paid off the house in 5 years. It sucked living with my wife and couple extra people sharing the kitchen and all the rest of the house.But now I have a 3 year old who runs all over the house, no more roomates, the extra rooms are now a playroom and an office. Don't give up on you dreams guys

[@sobeliever1638]

Good job!

[@hometech9537]

❤GREAT JOB 🎉 MY NEXT ROOMMATES I HAVE I WILL ENFORCE PAYMENT INSTEAD OF FORGIVENESS PAYMENTS

[@mariaticse1252]

Awesome 😎 🎉

[@Travlinmo]

I suggest similar to young employees buying a home but I get the distinct ‘yuck’ from these folks to having roommates.

[@Cinnamon5510]

@@Travlinmoty

[@Riggsnic_co]

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.

[@TheJackCain-84]

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..

[@martingiavarini]

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

[@bob.weaver72]

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@martingiavarini]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@gethighonlife11]

Well, the first two tips that you mentioned works for me. I have done bi weekly payments since acquiring my house 13 & 1/2 years ago. In addition to that, I have made many "principal only" payments. Have 6 months left on a 30 year mortgage. I will have turned a 30 year mortgage into a 14 year mortgage.

[@tasharichardson9618]

Wowww...this is what I want to do..I'm almost 3 years in the loan

[@keshiagonzalez3134]

Congratulations!!

[@peaceful22023]

Who is your bank? Because wells fargo puts your extra ID principle payments in their UNAPPLIED FUNDS accts?

[@terrazasvictim5441]

I bought in 2015 and have 12 years left. Doing my best to get it done in 9! Congrats mate!

[@JohnDoe-sl6di]

Awesome

[@Blubbha]

Bought house with age 30 for 350k€. There years later only 200k left. Live under your means... Old reliable car, keep investing at least some money, invest in yourself, smile each day. Stay safe everybody.

[@andy00748]

Good thinking and you gave me good vibe and hope , really 👍😅👍👍👍🔝💷💷

[@davisholman6518]

Thomas - you are a positive successful human. Thanks for being a positive successful human.😎

[@darnellcapriccioso]

For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@maiadazz]

@Craig Daniels Given current recession pressures, it is unlikely that the stock will yield substantial returns in the near term. However, it may be a suitable investment opportunity. I will monitor market conditions and consider purchasing when there is an improvement in the relevant economic indicators, any idea which stocks this may be?

[@tatianastarcic]

@Craig Daniels You are right! I diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above 750k in net profit within 2 years across high dividend yield stocks, ETF and bonds.

[@richardhudson1243]

@@tatianastarcic magnificent! can you please share more info on the coach that guides you? really could save me much

[@tatianastarcic]

@@richardhudson1243 Having a counselor is essential for portfolio diversification. My advisor is Melissa Scott Glazner who is easily searchable and has extensive knowledge of the financial markets.

[@chrisb5048]

This video literally summaries a bunch of information I've read over several books. This is a gem

[@timai3459]

Long story short - to pay mortgage earlier simply pay more every month and lower your principal. Period.

[@michaelgraham1005]

Thank you for using the correct spelling of principal. Watching this video with captions and they get it wrong every time he says it.

[@michaelbreaux2485]

Definitely. My mortgage is 1420 a month. I pay 750 biweekly. Huge difference.

[@MalcolmLawsonREALTOR]

@@michaelgraham1005 haha just for the record, that's KZbin creating those captions, not me!

[@christ2551]

Tima Thank you for saving me 15 minutes of excruciating pain. Thought he had a novel idea.

[@lolwtnick4362]

truth nothing to see here

[@alexsteven.m6414]

Great video! For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@belobelonce35]

@@user-hz8fm3dg6x You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@yolanderiche7476]

Do you mind sharing info on the adviser who assisted you?

[@belobelonce35]

@@yolanderiche7476 “Julia Ann finnicum” is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.

[@valeriepierre9778]

After locating her, I composed an email and arranged a phone conversation. I'm optimistic that she will reply, and my go

[@SheilaYilmas]

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]

Similar to any other investment avenue, the stock market requires a substantial level of expertise to sustain profitability. While my approach has predominantly involved buying and holding stocks, my portfolio has been in a state of decline for a considerable period. Achieving substantial gains necessitates consistency and the periodic restructuring of your portfolio to adapt to market dynamics.

[@HakimZakzi]

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

[@MarioRo1]

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]

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.

[@OlgaRusov]

Stacey appears to be really knowledgeable. Her resume, educational history, and qualifications were all quite good when I found her internet page. She will act in my best interests because she is a fiduciary. I thus scheduled a session with her.

[@manny7886]

I just paid off my balance of 29K+ mortgage 3 weeks ago. It felt good not to worry about house payment.

[@beans2605]

I’m debt free besides my mortgage. I’’m paying extra principal monthly while still maxing retirement accounts. I believe in doing both at the same time. They key is to stay the hell out of debt and be somewhat frugal. Not big on budgeting, more so into paying myself first automatically. A la David Bach.

[@HappyCleanersWA]

Bean S latte factor is one of my favorite books

[@tytrack95]

Yes and the key is to apply some of the strategies at the same time just as you said. It's very effective and works somewhat rapidly (snowball effect). Good for you :) Love David Bach too.

[@openureyes929]

Agreed.. thats what I am doin as well.

[@marthacastillo6937]

LOL I been going over his book automatic millionaire

[@jandreamer7130]

Best of luck, Bean S. The key is frugal. Try to eat at home. I do not know why Americans love to eat out!! I never eat out unless I am out of town. Eating out is waste of money. You are making the owners of the restaurants very rich!!

[@DavidAntony-gq7id]

After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?

[@BrunoLuke]

Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor

[@DavidAntony-gq7id]

@@BrunoLuke In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.

[@BrunoLuke]

@@DavidAntony-gq7id Please provide the information for your investment advisor here. I really need it now.

[@DavidAntony-gq7id]

@@BrunoLuke She is MARTHA ALONSO HARA, my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.

[@BrunoLuke]

@@DavidAntony-gq7id sincerely thank you I looked her up on the internet and was awestruck by how qualified she was; I contacted her since I need all the help I can get with canning. I've just scheduled a call.

[@ClementRusso2]

Basically , mortgage rates have reached their highest point since 1998, spanning 25 years. Considering inflation trends, there's potential for them to rise even further. Just a year ago, a 28year fixed rate was only 6%. This prompts the question: should I wait for a housing market downturn before buying or shift my focus towards the equity market?

[@antonnohr]

Indeed, I primarily engage in buy-and-hold, but my portfolio has been in the negative for an extended period. To achieve substantial gains, consistency and regular portfolio adjustments are essential.

[@Rodxmirixm]

My partner is also thinking about taking a similar approach. Could you please provide more details about the advisor who assists you?

[@antonnohr]

Her name is Stacey Lee Decker and she' a genius at her field. You can easily confirm her expertise by searching for her online. She possesses extensive knowledge of financial markets.

[@teekay_1]

@@antonnohr Stacy Lee Decker's home was just raided this morning and she is currently being indicted for fraud. Stay clear, you may lose everything you have.

[@consumerdebtchitchat]

I chose 840 sq ft condo 100k and did 15k cash remodel. Did 65% down. I'm on payment 18 out of 36 total (3 year pay off). I could have bought double. With condo paid I'll be able to put away 35% of my income into retirement. I didn't purchase to impress other people. They don't pay my bills.. (Update. Summer 2022 / Condo 100k paid off and 110k student loan forgiven).

[@14blairski]

You’re welcome for the student loan forgiven 🤬😡🤬😡🤬😡🤬😡

[@phylwilton1966]

Less than 15 years, and my 30-year is almost paid off. I've done almost ALL of these things. And I took advice from my mama, too. She told me to WAIT until I "owned" my house, before I improved it.

[@Bigboss-xe6lm]

A wise woman!

[@kenyonbissett3512]

Since most improvements only raise the value 30-85% of what you pay for the improvement, unless you do the work, it’s not a bad idea.

[@deliamanuel5805]

Phyl Wilton n

[@mrjack8849]

I think the best way to pay off early is to simply add or round up your payments to nice round number by paying more principal per month. When early in your loan, pay additional to your principal each month to round up what might be a payment of $850 (with principal and interest) to $1000 by paying an additional $150 in principal per month. It's just a small amount per month that probably won't hurt you too much but ends up being multiple extra payments per year. Then you also know that a flat $1000 of your budget is going to your loan. And it's best to start immediately when you get your loan. Each month's loan payment and interest amount is recalculated each month. So the more principal you pay earlier on, the sooner you get to the end of the principal borrowed and therefore interest...as explained in the video. The main point here is to pay more to your principal every month from the start and use autopay. It just becomes second nature that your don't have the money available to spend. If you ever come into a period with no income, you can back off the principal payment if needed.

[@nobujak]

I live in a very expensive metro region and just cannot afford to buy a house even though I earn $130K+. I gave up the idea of owning a house and instead decided to max out my 401K/Roth IRA contributions. Every few years I add $100K+ to my retirement accounts thanks to my employer's generous match-ups. I also invest in IT stocks and they are growing. I will get out of the States when I retire. I highly value my mobility.

[@DebiBrady]

As a govt contractor, I am often between contracts. When I'm getting paid, I contribute a couple hundred a month. So far, I've been able to take about a year off of a 15-yr, in less than 5 yrs. If I had it to do over, I'd probably do the bi-weekly version, then kicking in a lump sum at refund time.

[@mukhabatpaizova226]

I always thought bi-weekly not profitable because weekly I have to pay with interests anyway, how does it change?

[@roohullahalidost7349]

Wow! This is some great information both for home owners and realtors. I liked your presentation very much!

[@roberttopliss8512]

This is all true. It's also very rewarding knowing you own home, your stress level will plummet when you achieve this. Listen to this fella.

[@cellsforcheap4995]

You just need to figure out how to make a lot of money. Way simpler. Too much thought is going into all of this. The strategy should be to maintain a lifestyle that is in line with being fiscally conservative while making hundreds of thousands of not more per year. Then the rest takes care of itself.

[@JZETH_]

The side hustle tip is so important. Look at how the economy is right now. Having another way to make money in case of layoffs is very important

[@NikkiJabs]

My side hustle became my full time job in March when I got laid off from my regular job. I’m making more than I ever have- even more than my former career as a police officer.

[@dallascowboy1943]

@@NikkiJabs Dang girl, what are you doing now? Respect for you for wearing the shield.

[@paulashottesbrooke4400]

@@NikkiJabs congrats. Well done you. What is your side hustle?

[@NikkiJabs]

Dallas Cowboy Shipt shopping! It’s like Instacart. See if it’s in your area!!

[@NikkiJabs]

Paula Shottesbrooke Shipt shopping! It’s like Instacart. See if it’s in your area!!

[@mp.434]

Excellent delivery, brief and straight to the point, quality information, no yawning here!

[@PIPERBOYWILLIAMS]

I am a huge Dave Ramsey fan but I can say that you are the future. Learned more In this short time than weeks of studying Ramsy.

[@jasonlucht9221]

I follow two of these tips. I make bi-weekly payments to make an extra payment every year. The other thing I do is use part of my annual bonus to make an extra payment as well. So I contribute an extra $4000 a year to my mortgage. I've done the calculator and it should knock off about 9 years off my mortgage.

[@nikkibeee8191]

WOW!! This was a great video! Very helpful and educational!!! I will br applying your tips. Ivr been in my home for 3yrs as a first time homebuyer so I so needed this!! Thank you! You've gained a new subscriber!!!❤

[@kendrickmason2577]

I usually thought paying off my mortgage earlier was a good idea till I came across my financial advisor/portfolio manager who advised me on the right to do .

[@kendrickmason2577]

He advised that I invest the extra money I pay on my mortgage into stocks , forex and crypto, that has been the best advise I've gotten in over a decade because my investments in cryptocurrency has changed my life.

[@kendrickmason2577]

I've made over $786k in barely 11 months of investing in cryptocurrency and forex, isn't that amazing !!!

[@andrewnewman2516]

Yes there are different approach to things , it's cool as long as your decision favours you

[@sandradunn5091]

i have been making researches about crypto investment and i have read good stories about its money making potentials but the whole thing gets me confused as I do not have adequate knowledge of how the market ?

[@sandradunn5091]

How are you able to make profits with your investment in crypto?

[@sofiaroserosello6271]

Great tips! Thank you I'm trying to learn..

[@vijaytoor601]

The best video I have seen till now. Easy to understand and to the point.

[@chacho1155]

This is very useful information. The mortgage payoff calculator is awesome. Thanks for sharing.

[@kenjelinek6209]

Good stuff! Thank you!

[@athanasus333]

I've watched 3 of your videos wanting to learn about refinancing and I now feel very educated. Good stuff!👏 👍

[@MattTheMortgageGuy]

Great video Malcolm One point I’d like to make is on the refinance subject. Most lenders I broker to allow a “flex term” meaning borrower chooses the term. e.i. Refinance into a 26 year loan if you are 4 years in. If you owe $350k and go from 4.5% to 3.0% you’ll recoup the cost of the loan in under 1 year. You could continue paying your old payment and pay off in under 20 years. Not all refinance bad. Especially with a plan. Cheers!

[@firesign4297]

🤗👍🏿👍🏿

[@billjones5178]

Yes, when you refinance (at my institutions) the principle goes up by 3 to 4 thousand dollars. You may be paying a lower (or higher) rate, but on MORE $ principle. So your next few payments do not put you in a better place in the pay off curve. Run a spreadsheet, looking at your principal remaining say 5 years out if you refi or not refinance, but add in your new principle amount after the refinance costs are added in! Sure you may get a lower rate, but it will be on a higher amount.

[@jpvibe]

Really Great Information there! Thanks so much Malcolm!!!

[@genacook9309]

Thank you for sharing and I adore your side hustle suggestion!!🙌

[@chloetyler1166]

This is the best I have ever seen. How can I be like this. I want to own a $1M modern mansion. I think my investment will get my that in 4years. I so much love this episode 🔥👍

[@juliedeborah2651]

Successful people don't become successful overnight.. fear is the dangerous component that hinders us from taking bold steps we need to take to get to our dream destination..

[@ifeanyionwe8757]

To get rich in life you need to spend less and invest More. You don't invest 10% and spend 90% expecting to get wealthy on a bed of roses .

[@chloetyler1166]

@@ifeanyionwe8757 When you invest in the right thing and be consistent in it . You will definitely make it .. Just diversify your portfolio account

[@georgerouso3475]

@@chloetyler1166 Hey! .Hope it won't be a big deal to ask you what you invest in ?

[@chloetyler1166]

@@georgerouso3475 I make 45% in three weeks with Bitcoin. 3.5% with Tesla from just last part of 2020. It is not that hard if you want to trade one chart ticker and study it like a full-time job. I don't have a particular fund i invest in. Well I don't do it alone having a professional guide is the best way to a successful investment.

[@matthewmillet3807]

Solid advice! By adding a simple $30/month to our mortgage payment, we’re projecting to save almost 2 years (24 payments) worth of interest with very little extra effort. Any small amount extra is worth chipping away at the interest!

[@y.r.9401]

Awesome 😎 TY! Bc most cannot afford to pay more than that.

[@rachaelmaass1924]

Very helpful Malcolm thanks! We were considering refinancing our rental property to pay for some fixes and updates but reconsidered it now. You rock

[@pascalelessard3704]

Awesome tips. Thank you!

[@honestlyna]

This is helpful. Prioritize paying down debts (incl mortgage), reduce expenses, when you make more income don't splurge, pay it onto the principal or savings.

[@meganknoll4795]

Remember it's your money, if it must be leveraged, let it favor you. Take some money out of the bank, start a trade account and put it to work everyday and if for one week, you don't like the pace at which you money is growing, close the trade account and leave. But; I'm sure you won't cause in a week you will have generated more profit than your 9 - 5 does. 👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇 Learn how you can do this, Trading forex with @kaitlinhudgens on telegram.

[@charlesdonald6150]

@@meganknoll4795 so all I need do is chat with kaithlyn and I ll get in?

[@meganknoll4795]

@@charlesdonald6150 yea! She's like one of the Mentors in the group, but she preps every new member before u come in.

[@blakerauch1716]

My fiance and I's monthly payment was $2415 month. We would pay an extra $300 a month towards the principal. We currently just refinanced to get a lower interest rate and to get off of PMI. Our new monthly payment is $1918 a month. We plan on still paying $2700 a month but are now going to do bi-monthly payments.

[@kentbetts]

I suspect you would be better off putting the $782 per month into shares of Apple and Amazon. The video more or less describes how you can get out of being a debt slave by capitulating to being a debt slave. Not much different than Dave Ramsey. When you have cash you have options. Smart people hold on to cash. They don't instantly shove it toward debt. Once it is used to pay on the debt, it is no longer accessible. One part of this vid that I do like is the idea of not taking on a large debt in the first place. I think there should be a balance between the amount of debt you incur and the amount of cash you can invest. I would rather have a $1000 house payment and $1000 going into stocks than a $2000 house payment and no stocks.

[@tjones2550]

Try making the payments quarterly, in addition to adding, a payment each month and watch how fast the payments begin to drop on your ammortization chart. I don't use Dave Ramsey's chart. I use another that is free that allows, you to try different timely payment methods. I've got one more year after starting about a year ago. The timing of the payments is everything. This is the only thing that they all leave out when doing the videos. He is the only one, who mentioned QUARTERLY payments, which is March, June, September and December. Never drop just one large lump sum because it doesn't make an impact. Break up the payments. There is a strategy to it. TIMING.

[@rlanderson3]

Alexander Cherry, no it doesn't. Additional principal doesn't have anything to do with where you are in the schedule at all.

[@yasminea7149]

@@tjones2550 Which chart do you use?

[@tjones2550]

@@yasminea7149 it will say that the page does not exist. The page is orange at the top scroll to the middle and you will a link in blue Early Mortgage Payoff Calculator. Click on the link, I hope this helps you. It helped me.

[@roycecovington2154]

Great advice, thank you!

[@SchoolofPersonalFinance]

Solid advice!! Financial education is the key to making it happen!! Keep teaching.

[@Tatiana-cd1vu]

I don't even have a mortgage yet, but this is very helpful! Currently I'm saving for a down payment and I really want to pay it off and live completely debt-free as fast as possible.

[@drea6740]

Thank you so much, 20 year old home owner I REALLY NEEDED THIS

[@claudianuno3607]

Thank you, this information is very useful.

[@beverlycatalan8225]

Thank you Malcolm 😊 Love it.

[@DJjussi1]

how do you record / edit your videos? they're really great!

[@vip_supercars3652]

My bank told me I had to refinance to get rid of my PMI. I make an extra principal payment of $300 a month and it will take 12 years off the mortgage

[@CC-dg6cv]

Thanks for sharing that useful information, excellent video with the explanation.

[@joyslabaugh8286]

Keep up, the good work Malcolm!

[@jonathanansleymusic4992]

I JUST bought a house (last week) well below my means and I will have the whole thing paid off from start to finish in less than 5 years! 😃

[@juanitawatson596]

Congrats! You're one smart fella!

[@marjorieterilus2268]

Thank you Thank You Thank you, You have a new subscriber. Amazing Video

[@MalcolmLawsonREALTOR]

Thanks! Good luck with paying off your mortgage!

[@kuhnifehand2690]

Hey man, didn't know you had videos, it's pretty cool seeing you on KZbin!

[@hallowtab]

This is was very helpful, thank you so much!!!

[@christov4202]

6:00 - an extremely awkwardly long handshake. Good video by the way.

[@lisamurphy5770]

This is BRILLIANT!!! Boy do YOU know how to make a video. Thank you for sharing your knowledge with us.

[@coolviveka]

Thanks for the useful tips

[@juanitawatson596]

Excellent presentation and information.

[@nathanielcarreon5634]

In short, paying more towards the principal earlier everytime, the earlier you pay off the mortgage

[@jtompkins44]

ummm yes. Just like a carp ayment or any other secured loan as far as the principal. Wow

[@kenyonbissett3512]

Newbies to mortgages don’t always know this. It is essential that you mark the extra payment as principle only. Otherwise they will treat it as just a regular payment defeating your purpose.

[@robertprice9052]

I took zero exemptions on my W-4 at work. As a result of having more taken out of my check each month I got a bigger tax refund. Each year I was able to put a once a year 10K principle payment on the house. Along with monthly principle payments my house was paid off in record time. Most people will say I gave the government an interest free loan on my money. However, no one can ever tell me what they did with their money they received each month. I learned my money management from my grandmother. She quit school at 17 to buy a grocery store. She was in that generation that survived the Depression, and she took in personally. When she passed away she had saved and invested her way to being a millionaire. Great tips - its a shame money management isn't taught in schools.....

[@shanaroberts390]

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[@andrewfred6799]

Hi Robert, I love gina@creditmasterfixllc,com they is some very good people to work with thank you. An they make shore everything is done perfectly.

[@williambenefiel4925]

Robert I can vouch for Gina when it comes to credit related problems and clearing of debt i don’t know how she did it but she increased my scores from 496 to 795 and and cleared all my credit card debt she did it professionally in a short period, ­she is a life saver guys. You can reach out and tell her i referred you Creditmasterfixllc?com or email her on GINA at CREDITMASTERFIXLLC dot COM You won't believe it until you see it.

[@franksiegle1821]

@@shanaroberts390 Wow! I didnt believe they really work, I thought my sister was just ranting about how fast Gina got her credit fixed lol. Thats really nice, I'll definitely check them out now.

[@admirialh]

Nice video man. I'm listening!

[@yamilethlonu3691]

Great information! Thank you!

[@pederstrand8349]

Very comprehensive, well explained options. Good advice! When I hammered the payments and got my house paid off early, I sat down and figured out the amount of interest I saved! Remember, no mortgage, no foreclosure!

[@briellastellar6673]

They can reoposses for failing to pay property taxes. No man owns his land your renting from the government.

[@manny7886]

True. I just paid off my 29K+ mortgage 2 weeks ago. No more worries for a monthly home mortgage payment for me. I don't have a car payment also and pay off my CC every month.

[@jayinla81]

I paid off 459k, in 2.3 years using a first lien position HELOC at a whopping 4.75%. Granted, I worked 96 hours a week, but never once ate top ramen or borrowed more money. Discipline and putting life on hold for two years in order to have my whole paycheck for myself the rest if my life on 40 hours and invest my equity for the rest of my career is worth it.

[@cathymorgan4435]

All thanks to Janet foreign exchange for helping me to trade my $300 into Bitcoin and I was credited with the sum of $3200 after seven working days of my trade with her now I’m debt free I can settle my bills without even touching my paycheck I’m so happy with Bitcoin life is easy 😊

[@cathymorgan4435]

Whatzapp

[@cathymorgan4435]

[phone]

[@GS-wx5pr]

Great content. Great editing. Well done.

[@GraceEagle5]

Thanks for these tips! Looking forward to using 2 or 3 of them, or as many as we can.

[@georgiacoasthomes]

I love your new set design, Malcolm. Your videos are amazing and the information is spot on. 👍

[@MalcolmLawsonREALTOR]

Thanks, Karin, about 2 months ago I committed to really stepping up my game in 2020!

[@sergeyskakun8401]

Many thanks for sharing these tips. I find them really useful. I live in Russia (Moscow), and I wish we had the rates similar to ones you mention (like 3 to 4 per cent). I have 9.25% rate which is considered very good as there are no better options at the moment. Thanks again!

[@myfobtofabjourney9289]

A lot of solid gold advice in this video in which makes me subscribe to your channel, Love and blessings ❤️🙏🏽

[@emmabbyreborns341]

This is wonderful advice. Thank you!

[@NickUva]

Malcolm, great video and very helpful for younger people who were never taught these concepts. My only complaint is that you spelled "principal" incorrectly throughout the video, even on your graphics.

[@chiderafranklin554]

are you aware of the USA benefits you should benefit from

[@indman101]

I always paid extra principal online by the( week) and had the regular payment pulled out of my savings by the month,remember the true balance is by the day,this is the fastest way out of that debt,the Bank will not like this,they will make it difficult to do this and tell you oh you don't want to do that because of the early payment penalties which isn't much and likely wont apply most are 3 to 5 years before it drops off.

[@mojojomo55]

Great video. Concise and informative. You did spell Principal as Principle on one of the first slides.

[@mamikiramafoko4095]

Very comprehensive good advice.Thank you so much.

[@NathanLewis7871]

Two years ago, I was evicted from my two-bedroom apartment just because things re not going on fine with me. I was so determined that I must make it in life. After awhile, I made some money which I invested with the help of a financial advisor and today I own a house, two businesses and multiple investments-income.

[@jakethompson8737]

This is so motivating and thanks for sharing but can I meet your adviser?

[@kevinjohnstone4023]

This is the way to go and I am happy I come online today. How can I meet with your advisor?

[@paulinescholes6797]

I want to own a house too. Do you still have the contact of your advisor?

[@NathanLewis7871]

Her name is PATRICE ANN ISABELLA . She lives here and available on the web.

[@wannawatchu66]

@@NathanLewis7871 Where's "here?"

[@benjaminelsbury683]

Be careful with bi-weekly payments not many banks do this with out charging a fee. ( this is good if you do not have the discipline of paying your mortgage on time) + if they do offer bi-weekly payments then ask if they apply the payment bi-weekly or do they hold the payment and apply the full amount once the full payment is received. Many banks hold the payment so there is no benefit other than 1 extra payment a year. Then what you do is take the one payment divide by 12 then Add this to your loan rounded up each month. Feel free to ask me any questions. PS I appreciate Dave Ramsey for what he does but I do not agree or appreciate the amount of money he makes off people and preaching church but that’s another discussion.

[@eansugarman4675]

Excellent video David much appreciated keep up the good work thank you

[@rochellew4472]

This video was everything! Thank you so much!

[@carriebishop8568]

Was truly an eye-opening video I was always wanting to put extra principal to the loan and it's so much easier to do it the way you're doing it so that's what I'm going to do I should've done that 10 years ago. I only have $96,000 left on my loan and I have 22,000 in cash in hundred dollar bills saved. I'm wondering if I should just put that all for principal in one lump sum. What are your thoughts on this move? I'm so glad I found your channel I am a new subscriber for life.

[@kenyonbissett3512]

One you will trigger an IRS audit paying 22,000 cash. Technically the Patriot Act made it illegal to have that much cash as an average individual, Bill Gates probably has different rules, lol. Always keep an emergency fund. Beyond that it’s all personal preference.

[@yennyjen5742]

Curious if have you paid off your house??

[@john_albertv]

What an incredible informative video, thanks a lot Malcom! Soon to be retiring vet saving this for future rental properties.

[@MalcolmLawsonREALTOR]

Thanks. That's smart. My personal goal is to build as much passive income as I can and rentals are a great way to do that. If I ever have enough momthly income to cover my expenses, I plan on semi-retiring.

[@john_albertv]

@@MalcolmLawsonREALTOR That sounds like a great idea to semi-retire if everything continues to go well. To be blunt: Any advice on just using the VA Home Loan to buy a house with the main purpose of renting out the rooms? (apparently I have to live there for at least 1 year) So far my research shows that I need know my market, (in state VA) don't go crazy over budget (I'll shoot for 200k-300k for the loan) and find good tenants.....I'll keep researching for more information but any input would be helpful thanks!

[@MalcolmLawsonREALTOR]

@@john_albertv yeah, keep in mind you can also buy a multiunit home with the VA Loan if there are any available in your area. Multi units are not common here in Maryland. Turning a home into an Air BnB is also a common option these days so that may be something els you want to look at. The most important thing is to know what you will get for rent before you ever buy the home and make sure it's well above your monthly payment. When you do find a tenant, it will save you a lot of stress if you find a good one so charge an application fee and get a background check and credit report done on any applicant. A bad tenant can cost you thousands.

[@john_albertv]

Fantastic advice and you're right, a good tenant goes a long way. I'll keep all this in mind as I do more research but I definitely plan on using the VA home loan sooner rather than later. With the help of videos like yours I think I'm going to be on step closer towards Financial Independence. Thank you sir

[@elthajean8527]

Thank you. Of all the videos I've been watching your video make so much since

[@MalcolmLawsonREALTOR]

Thanks Eltha! If you got any value out of it, you could help me out by sharing it 😉

[@KTM_Atlanta]

I totally agree. He makes the most sense on the subject and cuts to the chase.

[@DIVIN3KINGDOM]

Thank you Malcolm for the practical advice! :DK

[@oldmanrock7542]

Paid 1st house off in 7 years. Paid present house off in 1 year.

[@Yomine123]

I worked 7 days a week, sometimes 24 hours a day for the past 11 years. I can now say that I will see the fruits of my labor. I have reached my goal and can pay off my house in full if I choose to do so. Hard work and living differently pays off.

[@manuelesparza1081]

Have a little fun and rest 2

[@MaryOKC]

Unless you love what you do are you living to work or working to live…

[@sobeliever1638]

Sound like a heart attack in the making. Stress on your body is not wise.

[@heroknaderi]

Wow that is awesome info.😀

[@mamabear3616]

Great info. Thank you

[@davidoustifine2285]

For someone who admits he doesn't agree with Dave Ramsay, he sure espouses a lot of the principles that Dave does.

[@m30arianne]

I don’t agree; Dave Ramsay doesn’t like using credit cards, Malcom does.

[@MalcolmLawsonREALTOR]

Yeah, I have a love/hate relationship with Dave. I do find myself agreeing with him on a lot of things but then he goes and says unlogical things such as only buy a home on a 15 year mortgage or pay off your least expensive debt first because it will motivate you RATHER then paying off your highest interest debt first. 🤷‍♂️

[@davidoustifine2285]

He recommends the small to large regardless of interest so that people can see short term gains and keep getting tractiion. On the mortgage, it makes total sense, the amount of interest you save on a 15yr vs 30yr is exponential, and they always pay off in 15yrs

[@fcsl2009]

Malcolm Lawson - REALTOR ebbb

[@KudaFamily]

I heard him disagree with 3 things at least that Dave says: 1.) Credits cards are OK in some situations, 2.) He recommends a 30 year mortgage, and 3.) Always pay the highest interest rate first. All of those would not be topics he and Dave would agree on.

[@chrissithlord4760]

Air Power! I am about to retire from the AF in 6 months. Thx for the advice.

[@MalcolmLawsonREALTOR]

Awesome! I made it 11 years before getting out. Put that retirement money towards paying down that mortgage!

[@john-mikaeljarvenkyla]

great video thank you subscribed and liked

[@shaikhyahyab]

Thankyou Mate, Much needed awareness!

[@phester6811]

You forgot to mention replacing your mortgage with a HELOC. I was caught in that trap for years..... bought my house in 2001 for 149900 and a couple refinances later I still owed 126000 in 2018. Learned about the HELOC and started in July of ‘18. 19k to go n will be paid off this June. So just under 2yrs paid off !!!

[@richp5064]

Velocity Banking...I am doing this as well. The reason this works so well is you can put all of your income in the heloc while still having access to your money. When you put extra towards your traditional mortgage that money is gone.

[@phester6811]

That’s it exactly!

[@Allaiya.]

Can you explain this further?

[@phester6811]

Allaiya type in ... Michael lush replace your mortgage on KZbin. That will answer all your questions. That’s where I learned it.

[@bmorgs12]

@@phester6811 just don't fall for the overpriced software companies that assist in this method... extra cash to mortgage principle is it... the Heloc methods help with efficiency and keep access to your cash via the HELOC... opened ended with interest calculated differently... Caution...playing with HELOCS can be risky for those that have little discretionary funds!

[@rafacq]

Excellent video! I’m retired and still owe 8 years in my 15 year mortgage which is at 2.75%. I can afford to start sending an extra $500/month to the principal. WIth savings interest so low, would you recommend this or are there ways to make investments that could yield more than 5% interest income? With exception of my house & car loan 1.95% apr which I plan to pay off in the next 16 months, I have no other debt.

[@MalcolmLawsonREALTOR]

If you have money sitting in your savings account, it's probably earning you 0.25% interest or even less right now. If you instead put that money towards your home loan, you are essentially avoiding paying 2.75% interest on it which means in the end you will have an additional net of 2.5% on that money vs if you just kept it in a saving account. Just make sure you do hold on to a bit for an emergency fund. The next 12-24 months could be rough for our economy.

[@rafacq]

Malcolm Lawson - REALTOR thanks for the reply! Luckily my credit union is paying 1% interest on our savings account! We also have about 5 months of savings readily available so looks like the plan is to start sending additional principal to the mortgage and pay that off early. Thanks again! Best wishes on your channel and be safe!

[@mariolouis786]

Very great and informational video!

[@Kyle-yx9tz]

Good info. Thank you

[@tinainnca]

Good video, however at 11:45 it’s implied that once you get your principal balance below 20%, that your mortgage company will automatically drop your PMI. Not true. With an FHA lisn, the only way to get rid of the PMI is to refinance

[@rlanderson3]

Depends on when it was originated. If it's an old FHA, that's still true. Even a new one might be gone in 11 years regardless of LTV

[@jennjoint6123]

My PMI just got cancelled and I didn't refinance. It automatically got cancelled when my equity reached a certain amount.

[@tinainnca]

Jenn Joint That’s great to know. I’ll need to dig further into each of the loans. everyone that I’ve tried which is ranged anywhere from two years old to 10 years old through FHA state that it is now permanently attached. there must be different programs?

[@wangui26]

tinainnca if the FHA loan was obtained after April 2013 and you did not put 10% down, then yes you would pay PMI for the life of the loan unless you refinanced to a conventional loan

[@tinainnca]

wangui26 Thank you. Is that the magic date to know?

[@nktaylo1]

A lot of people are visual learners - I highly suggest to anyone to look at an amortization calculator to visualize the impacts of making additional payments EARLY. I really appreciated this video; it's well laid out and holds a ton of value. Good luck everyone!

[@cathymorgan4435]

All thanks to Janet foreign exchange for helping me to trade my $300 into Bitcoin and I was credited with the sum of $3200 after seven working days of my trade with her now I’m debt free I can settle my bills without even touching my paycheck I’m so happy with Bitcoin life is easy 😊

[@cathymorgan4435]

Whatzapp

[@cathymorgan4435]

[phone]

[@TRobinson1962]

Very straight forward. Aim High!

[@rudyardgomeas6042]

Isn't making bi-weekly payments also beneficial, as your principal is reduced more with the payments and not just an extra payment?

[@arakwar]

The goal with the extra payment would be to boost your 12 monthly payment up by a notch. Which comes back to the point : the more you put on your mortgage the faster it goes down...

[@vero0992]

New-ish homeowner here trying to be smart. This is the best video I've seen on this subject. Going to help a lot of people! Thanks man!

[@MalcolmLawsonREALTOR]

Thanks!

[@BryanMichaelWilliams]

Don't listen to it. Leverage your home over 30 years do not pay it all off. Common sense guys