How to Pay Off a 30 Year Home Mortgage in 3-5 Years (Using First Lien HELOCs)

[@jacobsmith1877]

This has me convinced - thank you so much for this video. I will be contacting Anthony as soon as I can get my wife on board lol. I've known for years that amortization is a scam and I have lost so much money over the years between selling my first house after only owning it for 5 years, then moving into my current house, then refinancing a few years ago for a lower rate - just to get my taxes raised so now I'm paying the same I was before I refinanced. I want this house to be paid off in the next 10 years and need some help getting there.

[@DrFinancialLiteracy]

Have you started yet?

[@katk78]

I did 20% down and I started with 472 loan from the bank. It will be 2yrs in few months. I pay about 40kplus a yr and my loan this month still 455k. Wtf! If I owe 450k will 1st lien still work out for me?. And my interest rate is 3.875! The amortization is a scam! Education snd discipline seems to be the key. It took me about 3 videos on velocity banking before I 80% understood what it was about. Keep watching ya'll! Thank you for your video.

[@AdventurerPrimefire]

That loan is very cost efficient. Amortization is simply a level payment plan for your loan that you should probably follow because with short term rates as high as they are it makes a lot of sense to put money in a money market mutual fund. The settlement fund at Vanguard earns ~5.25% apr. While rates remain this high please take advantage of you low cost of capital as refinancing to a floating rate HELoC will be near 7% with perfect credit. If the debt payment is too high get access to capital(probably though savings or another line) and use that money to do a mortgage recast instead of a principal payment. With principal payment you take time off the end of the loan vs a recast will lower your payment but keep the term the same.

[@jmoreno2228]

First 15 years I think you pay more the interest rather than the principle

[@anthonyrushing2397]

Awesome Awesome!! I love to hear success stories from people who have learned about Velocity Banking and are living proof that it is a 100% viable option!!

[@AnthonyRushing-q1j]

@@jmoreno2228 Absolutely!!! People don't put as much attention to this fact as they should. I believe if they did, then more people would be looking for alternatives to the amortized mortgage!!

[@adelaidegyawu9360]

I think this Heloc will work well for people who are discipline in spending and nothing,without discipline everything will be back to square one.

[@sherrieadams8777]

Today I scheduled an appointment with Anthony’s First Savings Bank. I am really looking forward to my appointment! Thank you so much Jamel Gibbs and God bless you for sharing wealth tools.

[@TheBombaytube]

If you have a low interest rates which is between 2-3% then making extra payment monthly or annually towards Principal only will bring down the tenure of your loan. There are tons of amortization calculators available online and you can calculate what fits best to your needs. Using HELOC to pay your mortgage is a risky affair and needs a lot of discipline to do it right!

[@thomasxxxxxx2345]

If you have a low interest rate using a HELOC makes no financial sense

[@rossta3949]

​@@thomasxxxxxx2345 that's not true. Amortized loans are front loaded with interest. Early payments even on a low interest loan are still mostly going to interest.

[@winniethepoohandeeyore2]

@@thomasxxxxxx2345 Exactly. My interest rate is 2.875% Also doing a HELOC caused ALOT of people to LOSE their homes.

[@winniethepoohandeeyore2]

@@thomasxxxxxx2345 None what so ever.. Bought at a great low price and at a great low rate. All we do is overpay every month, the balance goes down all the time, knocked years off the life of our mortgage.

[@betitos11]

No matter the low rate a Heloc with a goos cash flow will be waay faster and cheaper to pay off than any mortgage. The huge difference is simple interes vs amortized interest

[@DanKohan]

I've always wondered about using first lien HELOCs to pay off a mortgage faster. Keep up the awesome work!

[@AnthonyRushing-q1j]

@dankohan - thank you!! -Anthony Rushing

[@DrFinancialLiteracy]

I tried but could not get one but did get a $50,500 paid off mortgage in about 15 days or 1 month.

[@iramcc409]

Great video! Also I'd love to see another video with you and Anthony discussing the amortization schedule.

[@AnthonyRushing-q1j]

Thank you!! We can definitely set that up!! - Anthony Rushing

[@jamelgibbs]

↓Subscribe for more real estate investing tips↓ reieducationacademy.com/KZbin-Subscribe Also, share and leave a comment below.

[@DrFinancialLiteracy]

Awesome I did it in 1 month.

[@wigalo2081]

Every time I watch one of these videos, I have to shake my head. The power is not in the 1st lien heloc, but the power is taking all of your remaining income and applying it to the loan balance. You could do the same thing by applying the same extra payment to a traditional mortgage. (It's odd how they never run that comparison) The argument on the other side is that you can't pull money back out....true. In that case get a 2nd lien heloc and leave it untapped if you want to apply 100% of your "cashflow" to pay your mortgage down. Why would i want to pay 3-5 points higher with a variable rate when i dont have to? They keep touting that simple interest is better than amortization...well at the higher interest rate that these loans command (and the extra "cashflow" of those most likely to use this strategy) is negligible. As they both pointed out, if one isn't disciplined, these loans could be a recipe for disaster since it gives the option of paying interest only. Trust me, there are better and more efficient ways to accomplish this task.

[@cmoss11467]

Really well said and great to see another common sense commenter on KZbin!

[@Nazox1999]

So yes, but there’s a difference between the two. Let’s say you are aggressively paying down your mortgage. Let’s say your payment is $2000 a month. No matter what, you have to have $2000 a month, and then pay additional towards the principal. If you want to reduce the payment, you have to refinance or ask for a recast/re-amortization. With a HELOC most of the time you’re going to get a draw period with interest only payments. Any additional payments you make go towards the principal just like a mortgage, however your interest only payment goes down each time you make an additional payment, instead of being stuck to a schedule. If your HELOC interest only payment is 2k each month and you pay an additional 1k each month towards the principal, then you very quickly start paying more and more towards the principal if you continue to pay 3k total. You could go from 2k interest + 1k principal to 1k interest + 2k principal with the same 3k each month, much faster than with a mortgage. However, I will say if shtf then it is a lot easier to rack up more debt with a HELOC if things don’t go to plan.

[@Jamess17065]

In many parts of the world mortgages are open ended and are all first position. In the US the banking cartel created the 30yr mortgage and people fixated on the "RATE" of the interest on it and "NOT" on the actual "VOLUME" of interest consumers pay. This is why you buy a 30yr mortgage for 450k you actually pay around 750K even with a low rate etc. This concept of using a first position HELOC keeps you away from having to use the banking cartel created product which "yes" is fixed but does still have significant volume of interest. If we focused more on how much volume of interest we are paying instead of the actual rate you would realize that although yes the rate is variable you are still going to pay much less interest then the 30yr mortgage. The banks have succeeded at keepin Americans fixated on interest rates. Yes you could do both have a 30yr and a second position but for what if you dont have to? I will say this, Our educational system and financial literacy has failed us so I would not recommend this to amateurs. This strategy should be left for financially stable high IQ individuals who can crunch numbers. Everyone else should just stick to bi-weekly payments on their 30yr mortgage and or get a second lien heloc and use that to pay off chunks. I would NOT recommend this to everyday people. For one they dont even understand it and it will blow up in their face. But just because it's not for everyone doesnt mean its bad as you say. Crunch the numbers and you will see in most cases this wins. All results will be subjective to each individual because we all have different cash flows at the end of each month. I have looked into this and crunched my numbers and I will be getting a first position on my next property. I know the math and I am disciplined. I will NOT use the 30yr mortgage product the banking cartel shoves in everyone's face with a nice bow. I know better and can do better... Cheers and happy new year...

[@dandreclayton4754]

@@Nazox1999 YOU ARE SPOT ON !! I had a client just last week that had a 15 yr mortgage @1.99% and paying an additional 2k to his mortgage and it still fell short to using this method for the reasons you stated and another reason INCOME. Some when they watch these podcast forget that some people make 10K 20K and even 30k a month and low expenses when the income reaches those types of levels paying an additional payment doesn't make up the difference that people would like you to believe. Also what is the balance of the mortgage if it's super high then that extra 2K will help but it wont as much for people who live in 700k houses their income is usually high enough that an extra mortgage payment isn't that significant. So you are right the recasting of the loan automatically that the HELOC does is what morphs the speed of paydown. There is a reason why the 1st position HELOC has had only one foreclosure since 2014 whereas the mortgage has over 100k in the first quarter of 2023. The people who qualify for a 1st position HELOC have good credit which means they also have good money behavior. You don't even enter underwriting if you can't qualify. Therefore all the horrors of over spending are mitigated by a great degree. This cannot be said for traditional mortgages the underwriting habits are so bad that most will be in the hole or they won't be able to pay double the mortgage because they shouldn't have qualified for the house in the first place.

[@zenashkassa5383]

Ok tell us about it

[@WorryDontAbout]

Yes another Anthony video and how the amoritazation interest vs heloc interest works

[@DrFinancialLiteracy]

Awesome right!

[@Hotsimone24]

I agree

[@CyrusBee]

Thanks for the video!!! This is the first time I’ve heard of first lien helocs and it sounds like it could open up a whole new world of financial possibilities for me. I would love another video with Anthony about amortization schedules!

[@johgrehinton8272]

Great info. Thanks. I want to see the next amortization episode with Anthony.

[@DrFinancialLiteracy]

Amen

[@sharlinehill509]

This conversation is so important educational informative i love it i need more of this heloc conversation thank you guys

[@DrFinancialLiteracy]

Did you get a HELOC?

[@almaroberts2933]

EXTREMELY HELPFUL 🎉 THANK U 💰💰💰

[@gingersweeney7071]

Hi Jamel, I'm interested in getting a HELOC, but what do you think - what is going to happen with the current banking collapse?

[@DrFinancialLiteracy]

That have 60 days to let you know or it could be sold to another investor.

[@kayjay7865]

22:54 the only way u can pay off ur mortgage in 5 yrs is if u have that amount to contribute to ur mortgage. If the balance of ur mortgage is $150k u need $50k after all ur bills are paid to contribute to the mortgage. I don’t know many people who make that kind of money

[@DrFinancialLiteracy]

Not true I did it in 1 month

[@kayjay7865]

@@DrFinancialLiteracy how? Pls show me the numbers

[@NaoShouaFamily]

Please show us a example on the white board video be great 👍 thank you

[@DrFinancialLiteracy]

Amen and that would be great.

[@DrFinancialLiteracy]

I have some examples

[@jaredshowers1]

Renewing your mind to a whole new way of thinking

[@digdogitty]

How does this differ from paying an extra $100 - $500 a month on my 4% interest rate mortgage now?

[@AnthonyRushing-q1j]

This is a good question. The main difference is that, with an amortized mortgage all of the money you put into the loan is locked away, so people have to be very careful with how much they put toward their mortgage. With a First Lien HELOC the money you put into the loan can also be taken out, which allows for you to safely put everything toward the balance of your home. I hope this helps!! -Anthony Rushing

[@thomasxxxxxx2345]

The difference is that the HELOC will cost you more and complicate your life.

[@matthewh8573]

If you do extra payments instead of a HELOC, in addition to locking that money away, you’ll also have to save $thousands for you emergency fund. Yes, you can save $30k overtime in a HSA at 4-5% for however long that takes. Or, not save at all by putting all your income in the HELOC and using that as your emergency fund. Which is better $30k making 4-5% interest and a mountain of stress saving that, or $30k into a HELOC that’s reducing interest over time by 10-20% with money you’ll always have access to? I find that naysayers usually don’t fully understand the methods or big picture. Good luck!

[@DrFinancialLiteracy]

​@@thomasxxxxxx2345Not really my life is simplified and I paid about 4.2% in closing cost but saved $66,000 in interest payments on a 30 year loan.I tried but could not get one but did get a $50,500 paid off mortgage in about 15 days or 1 month.

[@DrFinancialLiteracy]

​@@matthewh8573Amen and the latter for me!

[@heykeithsantos7474]

Let’s just say a person has three option ( A make a monthly payment or more) (B regular payments plus additional Principal/additional escrow) (C Additional Principal/ Additional Escrow). Where is the best interest for a person to put the HELOC into from those choices?

[@ryanlocke3085]

I'm assuming interest rates on the loans are a big part of this working. Halfway through, hoping you touch on that.

[@DrFinancialLiteracy]

My HELOC has a range of 4%-18%.

[@TheMarineNTheMrs]

Liked and subscribed! Thank you for this video Jamel (& Anthony) it was packed full of great information! I'm on a carnivore diet so I consider myself disciplined 😂 but I'm enjoying learning about this. My problem is I live in TX. I think there is now 1 company who will do a first lien HELOC, but I'd like to have more than 1 choice when it comes to who I use for something like this

[@DrFinancialLiteracy]

Amen

[@greatescape-jc1]

Hi James and Anthony, how much total cost added to my balance aside from $500-600 coming out from my pocket?

[@DevinMostDangerousGantt]

Also can you do a 1st position heloc on an investment property, appreciate the content from jersey

[@digdogitty]

I have around $60,000 equity in my home. If I do a 1st position HELOC on my home, is there any way to transfer my higher interest credit card debit into the HELOC also? I understand I will need to deposit into the HELOC acct an amount somewhat higher than my total monthly payment on my 30 yr mortgage now, current payment with PI insurance and taxes $740 month so HELOC payment would need to be around $850 month, but the interest rate on the HELOC would be less than my current 18%-29% credit card debit.

[@anthonyrushing2397]

Yes, 100%. We find that consolidating debt into the First Lien HELOC (a) helps to transfer debt from a short-term, high-interest debt vehicle saving interest costs, and (b) increases Cashflow which accelerates the paydown of the overall debt. Most of the time, it is a REALLY REALLY great move.

[@cmoss11467]

In order to properly answer your question, more info is needed. What is the interest rate and balance on your current mortgage? Also, how much of the $740 payment is just the principal & interest portion? And how much do you owe on the CC's? Happy to run some numbers if you can provide that info.

[@METVWETV]

No disrespect but YOU'RE A MESS! Cut up your credit cards, Get on a Budget and Snowball your debt INTO Oblivion! Do Not use more bad debt to eliminate Really bad debt!! You have a bad relationship with money and you're destined to head down the path of a never ending cycle if you don't change your thought process. Ie: Pay down debt while still accumulating more debt, never getting ahead, always buying, never budgeting. Too many people do this forever, then die broke! Watch the Money Guy or Dave Ramsey. You need a plan, not a scheme.

[@DrFinancialLiteracy]

Yes that is exactly what I did with my $50,500 HELOC.

[@DrFinancialLiteracy]

That is what I am doing with my $50,500 HELOC.

[@missycouponi8521]

Love it! Please more on this subject!💜👍🏽

[@AnthonyRushing-q1j]

@missycouponi8521 - thank you!! Will do! We just did another video about different objections people have with the loan. You should check that one out as well!! -Anthony Rushing

[@DrFinancialLiteracy]

Amen to that!

[@kingbthegreat2967]

I'm wondering how this would work for someone that does not own/Has a lien on a home YET, but is looking to do so. Would they have to get this Heloc signed in during the purchase/Closing of the property?

[@qvorhies3575]

So what kind of variable rates are there? Is it a built in arm, like ebery three or five years the rates change? Id be interested in knowing closing costs, appraisal fees, and other fees. Would be good deal if it was like a regular mortgage and rate never changed over term of loan.

[@WhiteRiceCycling]

I think a better idea to his explanation is to use the money on your savings to work for you. For example I have a $20k on my savings now and apply for heloc for $20k, once you receive that $20k from heloc give it to your lender and apply it to your principal. And then park your $20k on your heloc account so you don't have to pay interest because you already have your $20k park in there. Then do the same for the following year, it will work much better if you pay extra principal on top of your monthly mortgage, only of course if you have the cash flow. I don't recommend it if you don't have much savings or living paycheck to paycheck. Correct me if I understood it wrong. Thank you

[@DrFinancialLiteracy]

I am living pay to pay and a 1st lien has been great

[@brettrobinson8130]

@@DrFinancialLiteracy If your living paycheck to paycheck (your expenses equal your income) then this strategy legit cannot work. Zero chance. Your missing something and your not paying down the loan any faster if at all.

[@aarondmtz2178]

Great info but in TX 1st lien HELOCs are not available. Great info though!

[@DrFinancialLiteracy]

Hope soon

[@melodyn6419]

Can I qualify for HELOC with a low 1099 income?

[@AberrantArt]

Great interview Jamel!

[@DrFinancialLiteracy]

Out the park with another one!

[@danahoward759]

So, is it best to have your house paid off, or nearly paid off before you get a HELOC?

[@AnthonyRushing-q1j]

@danahoward759 - It's actually better from a savings standpoint to get a HELOC when you have a higher balance and when you have longer on your home. If you can pay DOWN the balance faster then you're paying interest on a low balance, and if you cut down the amount of time that you're paying interest it gives you the opportunity to save more in interest costs. I hope this helps!! -Anthony Rushing

[@DrFinancialLiteracy]

When you have the mortgage.

[@robbinholman9936]

What is the best scenario for this Heloc? Certain balance? Interest rate? Credit?

[@SageDragun]

What if I already paid off my mortgage. Is it better to get a home equity loan or is Heloc better?

[@danahoward759]

I have the same question. But I've always heard the HELOC is better

[@cmoss11467]

If your mortgage is paid off, what would you be using the new home equity debt (line or loan) for?

[@METVWETV]

NEITHER! Be grateful you're free and focus on your Nest egg. Budget and save for what you "Need" (Emphasis on NEED!)

[@tracycaywood2762]

Just saw this video and it is a little old so just wondering if you guys are doing this now in Texas and if not can you recommend any banks here in Texas that do? Thanks!

[@snowballmax7448]

The caption is deceptive, everything looks easy on KZbin

[@humblebee7979]

You'll want to shop local credit unions. In Texas, RBFCU offers a HELOC.

[@DrFinancialLiteracy]

​@@snowballmax7448No it is bi did it in 1 month.

[@evangelinamontgomery9872]

Pls more on this 😮

[@AuroraSarmiento-xe9qd]

I been reaching for heloc most banks font offer it

[@sheniqueroute5383]

This Is Gold! Knowledge is Power. I never knew something like this existed. I will definitely be reaching out to see if this is an option for me. Many thank for this conversation.

[@DrFinancialLiteracy]

Yes and so easy

[@soniaspicer2050]

If i have a mortgage, will a 1st lien HELOC work for me?

[@DrFinancialLiteracy]

Yes absolutely.

[@brettrobinson8130]

Be careful. In my personal opinion this is only for high income earners who have a high savings rate. AKA spend way less then they earn. Even then I am skeptical.

[@garrisonlewis2939]

I need this for TEXAS!!

[@DrFinancialLiteracy]

Hope soon

[@richardkirk5098]

Christy Vann has lenders who do this in Texas. My credit union RBFCU does both 1st and 2nd lien Helocs. They are headquartered in San Antonio.

[@juliem2538]

CMG mortgage company, “All-in-one” does HELOCs in TX

[@matthewh8573]

51:16 probably “modular homes” is what you wanted to say.

[@DrFinancialLiteracy]

I am trying to help legislators to allow this. We should help if we can send billions throughout the world.

[@pbdmd3688]

Is 1st lien HELOC available and allowed in Texas? I have 2 primary and 3 investment properties in Dallas TX. I would like to explore it for sure.

[@DrFinancialLiteracy]

Awesome hopeful

[@Heart4KidsNonProfit]

Do you do 2nd lien HELOC?

[@DrFinancialLiteracy]

Amen

[@digital_0630]

So this only works if your equity is more than the balance of the loan?

[@DrFinancialLiteracy]

Yes absolutely.

[@BillZakrzewski]

Very informative!

[@DrFinancialLiteracy]

Amen

[@awakeninvestment]

what are the tax benefit of it?

[@zenashkassa5383]

Very educative thanks

[@DrFinancialLiteracy]

Amen to that

[@atakbill3288]

I took out a HELOC in 2020, had 5 years drawing period. Putting a 1st lien HELOC on a property, is there a limit on drawing period?

[@DrFinancialLiteracy]

My current draw period is 3 years on $50,500 at 10.25%

[@richjohn3994]

Thanks Jamel

[@DrFinancialLiteracy]

Awesome

[@ChristinaKjarCPA]

Anthony, I looked at your website. Why can you not offer 1st liens HELOCs in Texas?

[@DrFinancialLiteracy]

Legislative laws.

[@stevekil4475]

Double down on length but more control over the amount. Interesting....I just 3x the principal that'll do it too.

[@DrFinancialLiteracy]

Anen

[@DrFinancialLiteracy]

Amen

[@imeldainterino7747]

26:26 I don't understand why most people love to eat out. I make over $8k a month and still drive an old car that was paid off and grocery shopping every weekend. It's more fun, creative and cheaper. I know a former client who eventually got foreclosure because her and family eat out at least 3x a week, crazy 😂

[@ernestjackson6231]

I love the concept of the HELOC,why can't you work in the state of Texas?

[@DrFinancialLiteracy]

That would be awesome.

[@aceofslayz]

Thanks for the free game

[@DrFinancialLiteracy]

He is great

[@winniethepoohandeeyore2]

The principal part of my mortgage is only $125. Bought at 2.875% Just by overpaying the principal every month since our first payment was due we knocked almost 7 years off the life of the loan in 3 years. Each COLA we add another $10 to it. So in 2025 we will pay $50 more on the $125 a month principal.

[@DrFinancialLiteracy]

Amen

[@Magress]

If i put my whole income in at the beginning of the month, does that count at the loan payment?

[@DrFinancialLiteracy]

Yes and your cash flows lower the principal.

[@kayjay7865]

21:55 Anthony I have been saying this since I learned about it in my 1st finance class. It should be illegal

[@reginatyson1446]

Iam still not really clear no that need more clarification on this please help me to understand because I want buy myself a more now and still looking

[@stevenwills1971]

Great information

[@AnthonyRushing-q1j]

Thanks!!!

[@donaldricher8815]

​@@AnthonyRushing-q1jwhat happens if market crashes and bank freeze your HELOC. Still got to pay monthly payment correct?

[@DevinMostDangerousGantt]

Is he still with the company? Would love to do this with my home love the podcast my brotha

[@rpatel8978]

Mehhh Heather videos on the same subject or 1/8 the length get to the point if you guys are doing a zoom call from remote locations at least have a third screen to show numbers and examples

[@davidcobb4839]

Love this

[@DrFinancialLiteracy]

Awsome

[@kayjay7865]

25:35 the median salary in the U.S. is $60k. If ur bringing home $5k that’s after taxes so ur making more than the median income. Who are these people

[@DrFinancialLiteracy]

Making $3,3900 net in CA and did it to pay the mortgage off in 1 month.

[@brettrobinson8130]

​@@DrFinancialLiteracy Show the exact numbers. Cuz your videos on your page dont show anything.

[@sylviamarma8151]

I am really interested but don’t understand at all??

[@kendrickharding514]

Can’t do Texas homes? Wish that was stated at the beginning lol but it’s good to know that options like this exist

[@DrFinancialLiteracy]

Hope you get a work around!

[@josecorrea4251]

When you going to say how we can do it

[@patmcluvn5859]

So you saying I should go into debt to pay off debt? I’m confused

[@airhosts4ultd42]

Debt consolidation. Or paying off debt that is unmanageble. To more affordable levels Is the best benefit I see of it.

[@DrFinancialLiteracy]

I paid the mortgage off in 1 month and now saving $500 per month and $66,000 in interest on my old 30 year mortgage.

[@TheYankitnow]

All Helocs are adjustable rates, 8.5% plus up to 10%. if you have a 30 yrs fixed at 5.9, why would you convert yourself into a 8:5% plus adjustable. Even if you dump all your income there and pay your bills, the money lost between your 5.9 fixed and 8.5% is one that you can't make up. Can someone explain to me how this idea is good right now?. Admittedly if Heloc rates were much lower than the 5.9% it may make sense to do this. I am sure i am missing something this video

[@LiveStockMarketOptions]

It only makes sense, if you plan to renovate and flip. Use the loan and repay within a. Year

[@RicoMonterrico]

Hello the website does not work to subscribe?

[@AnthonyRushing-q1j]

Hey @ricomonterrico - did you make it to the site?

[@DrFinancialLiteracy]

​@@AnthonyRushing-q1jAmen

[@cirrocc1]

Why not just use a 401k loan in place of a HELOC? Government 401ks (TSP) are offering these loans at 4.375%, so you could get the loan/line of credit at a lower rate.

[@DrFinancialLiteracy]

Awesome

[@D..Dreamer777]

👍🏼 11:31

[@DrFinancialLiteracy]

Awesome

[@luvspassioncoach6478]

so my monthly interest payments on my credit cards just interest is 2k a month would this be a better benefit for me as I see that 2k will go more to the total loan value if I combine all payments made on the mortgage and the credit cards. plus I always pay more than the minimum due

[@DrFinancialLiteracy]

Absolutely it will

[@brettrobinson8130]

Yes this is debt consolidation. You don't need a HELOC per say to do this. Any LOC that is a lower rate then your credit card would work for this. Not sure your financial situation but the key is you still need to be approved.

[@ruthsamuel7340]

But what about the interest for this? Every credit has interest,that's how lender make money..this is so confusing.

[@kayjay7865]

Understand this is a method of paying debt not an investment strategy

[@DrFinancialLiteracy]

Amen

[@realist915able]

Velocity banking doesn't work

[@Gimme_Cornbread]

It's too bad this isn't available in Texas.

[@DrFinancialLiteracy]

Yeah sorry.vyou could use credit card or personal I did.

[@johnsamsjr8670]

So this concept is just like having a open ended charge card

[@aceofslayz]

Debt out of sight, out of mind

[@DrFinancialLiteracy]

Amen

[@adelaidegyawu9360]

Discipline, education and cautious about unnecessary spending.

[@DrFinancialLiteracy]

Amen and Amen.

[@antoniorodriguez7091]

Bro cut the commercials!!! You have great information being presented. However, being watered down by all the commercials!

[@jamelgibbs]

Easy fix. You can upgrade to KZbin premium and they won't show you commercials. We don't have any control over that. Even if we turn ads off, KZbin will still show them.

[@DrFinancialLiteracy]

Awesome information

[@Trisha-x2q]

Waste of wtching this video for more than an hour and no outcome. better use a proper pen and paper and show the audience real figure by black board presentation. You do it for 10 mins video but make sure readers get the things right. worst heloc video ever I watched

[@DrFinancialLiteracy]

This is a unique topic.

[@DrFinancialLiteracy]

This is a unique topic

[@Iamstylen]

Why isn’t he using the very important words “variable interest” and how that is ALSO increasing their balance? He is purposely excluding the interest part of this strategy. Not that it’s bad or good but don’t leave the most important part out if the conversation.

[@ask_why000]

5 year fixed.

[@MiamiDre]

Also people always hear variable and they go straight to the rates rising. Variable also means they can't drop too.

[@DrFinancialLiteracy]

My HELOC variable range is 4%-18% and paid off 30 year mortgage in 1 month.

[@DrFinancialLiteracy]

​@@MiamiDrethey can drop

[@HairTalk101]

You need a 680 credit score.. 😢

[@DrFinancialLiteracy]

Try using a credit card or a personal line of credit first that where I started and came back to pay 1of my 30 year in 1 month.

[@TjMadison-j3h]

Sounds not right or alot of extra money putting in

[@5250ITW]

Too much talk, not enough facts and numbers.

[@DrFinancialLiteracy]

Did a good job.

[@DrFinancialLiteracy]

Did a good job on a deep subject matter.

[@bocefusmurica4340]

Um Right? Sucking sound 😂

[@cryptojohnny7781]

Thanks for the VId but man boring as hell , you could have summed this up in 30 min not over an hour

[@DrFinancialLiteracy]

A unique topic to deliver.

[@Hashim-G]

Yea or just make more money! lol sure where’s the printer

[@DrFinancialLiteracy]

Amen. Lol

[@ocean1233]

JUST TALK STRAIGHT 📢📢 SO MUCH BS ‼️

[@iitalianii]

This guy can barely say this with a straight face. He chose scamming people over helping them and justifies it, like every sleazy salesman does, by thinking “but mi familyyyyy”

[@DrFinancialLiteracy]

I did this in 1 month

[@nunya2954]

STOP USING "RIGHT" AFTER EVERY SENTENCE. FFS GET SOME LIGUAL LESSONS. ANOTHER THING, YOU ARE TALKING A LOT OF WORDS AND TELLING NOTHING, WHICH INDICATES TO ME, YOU ALL JUST WANT SOMEONE TO BUY YOUR PRODUCT. FOLKS, YOU CAN OUT OUT AND READ EVERYTHING YOU NEED TO KNOW ON EVERY KIND OF LOAN, YOU DON'T HAVE TO PURCHASE ANY PRODUCTS EVER. ANOTHER THING, ANY LOAN OFFICER WILL AT A BANK OR CREDIT UNION, OR MORTGAGE COMPANY WILL BE HAPPY TO SIT DOWN WITH YOU AND EXPLAN EVERY KIND OF LOAN, AND GIVE YOU PRINTED INFORMATION..

[@jamelgibbs]

Im trying to figure out what was for sale! Anthony was offering a consult to answer questions regarding HELOCs which doesn't cost anything. I think you're mistaken by what you saw, but have a great day!

[@AnthonyRushing-q1j]

Thank you for the feedback!! I can definitely see that I'm using the word "right" way too much. I think it stems from my experience as a teacher, where I would implemented quick and consistent "checks for understanding," to make sure I could move forward with the content, however after listening a bit more to the video it's obvious that it's not effective for this type of platform. I'm not familiar with "lingual lessons." Do you teach them? Do you know anyone who does if you don't? I'm always looking to improve!! You are 100% correct that anyone could go to any Loan Officer, they're welcome to do that. All that being said, if you would like to chat with me you're welcome to reach out if you'd like. It'll give you the chance to pick me apart and prove me as the quintessential salesman, or maybe the conversation would change your opinion of me and leave the conversation on a positive note. 🙂 Feel free to give me a ring if you'd like. 615 716 9090 Thank you again for your feedback, it definitely helps bring to light ways for me to improve the effectiveness of the message!! Best Regards, Anthony Rushing

[@DrFinancialLiteracy]

This is a deep topic.

[@DrFinancialLiteracy]

​@@jamelgibbsAmen

[@hedgefund996]

Amazing Super Educational Content. 🫡

[@DrFinancialLiteracy]

Amen to that