Intrest rates can be scary, but with VELOCITY BANKING there's nothing to fear!

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Пікірлер: 53

@angusmcprepper9379 4 ай бұрын

Christy's explanations are clear and concise. She has so many videos, there's probably a close example for anyone's situation. She's a blessing for many.

@VanntasticFinances 4 ай бұрын

@angusmcprepper9379 THANK YOU SO MUCH for your kindness.❤️

@luisfiaz2934 4 ай бұрын

Agreed 100%👍

@sergioblanco4504 4 ай бұрын

The most important thing of velocity banking is to know your expenses. I mean every detail. Not your budget, but your actual expenses. Always look at your credit card or heloc statement to know the true number. Last thing you want is to not have cash flow.

@deval3596 4 ай бұрын

since starting velocity banking in december, I do not pay attention to the amount of interest I'm paying or I'm going to get charged. all I do is just make sure I don't over spend and when I do I obviously have a reason because it's something I need. like in the month of april I had to do some home improvements, so I had to spend more than what I anticipated at home depot. regardless, it still didn't worry about it and since I started doing velocity banking I'm literally stress free. when it comes to my finances I have no reason to stress about it and it's to the point that when I see friends or family they literally tell me that I don't looked stressed out.

@VanntasticFinances 4 ай бұрын

@deval3596 🥹… that is absolutely beautiful. Thank you for sharing that❤️

@BreakingMechs 4 ай бұрын

Watched your video, applied for PLOC within 5 days. waiting for approval. realized all our finance were backwards just throwing away money at banks.

@eggchin9721 4 ай бұрын

I really enjoy watching your videos and it makes me excited to pay my bills i just started using your method and I'm already ahead of my bills with much less stress. I really enjoy when you show the real life scenarios and break it down showing how it all works out. It gives me so much more hope for my future moneywise and I can see so much potential

@VanntasticFinances 4 ай бұрын

@eggchin9721 AWESOME! Thank you for sharing.

@ccbloom3223 4 ай бұрын

OMG THANK YOU!! Ive been watching so many videos and this one question was driving me bonkers! You helped me understand so much!

@lanessiacarrington8283 4 ай бұрын

My problem with mortgages and lots of other things we pay for. EVERY time you sell it taxes have to be paid on it. Did I not already pay the taxes while I was paying for it? Why does the buyer have to repay the taxes that were already paid?

@Pilot_the_Dune 4 ай бұрын

Because taxation is theft.

@lanessiacarrington8283 4 ай бұрын

@@Pilot_the_Dune you hit the nail on the head

@Jesus-kt5dc 4 ай бұрын

@Pilot_the_Dune That's one way of looking at it. Taxation is the genesis of money creation. The real theft is interest, if you're playing the payment game. Have a great day.

@Jesus-kt5dc 4 ай бұрын

Who said you have to pay taxes when you sell it? The first 250K if single, 500K if married, of capital gains is tax free if you have lived in the house 2 of the past 5 years. You could also do a 1031 exchange. Have a great day.

@Pilot_the_Dune 4 ай бұрын

@@Jesus-kt5dc True, but its the only way to look at it.

@Pilot_the_Dune 4 ай бұрын

Its called a mortgage because the deal agreed to dies when it is satisfied. Its not nefarious.

@roseguber3240 4 ай бұрын

In Italy is called a Mutual: You get the house, we get the money...

@wallstreetme 4 ай бұрын

Yes i like velocity banking since it essentially get you not to park your money in a savings acct and yet paying higher rates on other loans. 1) It forces you to take that extra cash and pay off higher rates loans 2) you still have access to cash via revolving credit card or Home equity line of credit in case of emergency 3) BUT you don’t save that much interest on your HELOC by parking your salary in there. 4) you could achieve same result by making extra payments to your loans but it is more cumbersome plus everyone (including the banks tell that you must have savings). No you need access to cash like the large multinational corporation with their revolving credits (which are paid down by year end).

@lilymarcelle6521 4 ай бұрын

I wish a lot of people will read your comment regarding savings account and access to money if needed, investing the excess money if there is available is better than letting it sit in savings account. Have a PLOC or HELOC for emergency funds.

@Colette-x6h 4 ай бұрын

Christy Please Stay Safe with all this crazy weather Sister! @VANNtastic

@susanq7870 4 ай бұрын

What is "Home Sharing Agreements" that lenders are offering to people with low credit scores? Thank you! Your a blessing!!!

@lilymarcelle6521 4 ай бұрын

Velocity banking works, I am a living witness, Thank you Christy!

@VanntasticFinances 4 ай бұрын

@lilymarcelle6521 Absolutely, my pleasure! God bless you!

@moonshadow128 4 ай бұрын

It should be illegal!!! My mortgage went up . I had a 30 year mortgage with a balloon rate at 15 years! 6.6 % It went up $128 on the month. 🤯

@madelinewalton3513 4 ай бұрын

Thank you so much for your good advice!

@mygoodlife204 4 ай бұрын

In South Africa it's called a Bond. Go figure

@CassandraDobson-Toney 4 ай бұрын

When determining you expenses, how do you account for bills that are only paid quarterly or twice a year? Also, what about payments that change monthly? One other thing, my credit card companies only allow two payments a month, so how do you add your pay weekly? Thank you!

@hangemhigh3578 4 ай бұрын

I believe it's against the law to not accept payment for a debt.

@lisalindberg9980 4 ай бұрын

I have 10 years in a 30 year loan.Is it still wise to use the velocity banking to pay it off? I owe 60k.

@nl212ep 4 ай бұрын

I have good credit (750 FICO) and positive cash flow but I am having trouble finding banks/credit unions that offer PLOCS and I do not have enough equity in my home for a HELOC. Any suggestions?

@hangemhigh3578 4 ай бұрын

You know what kind of made me angry? The country is allegedly trillions in debt and they are giving us credit scores.

@Jesus-kt5dc 4 ай бұрын

The federal government balances unemployment and inflation. Households balance budgets.

@lisamachajewski6015 4 ай бұрын

Could you clear up this for me ? If you take out a HELOC or credit card to pay your house payment, are you supposed to pay more than the actual payment? Also, when you make the house payment and it comes out of the HELOC, I understand that the interest on the HELOC loan is less than the interest would be on the house payment, but when you make the payment, isn't the interest already added in? So technically you're not saving the interest that you're currently paying each month. It just shortens the life of your loan. Is that correct?

@cinowens1 4 ай бұрын

Applied for a HELOC and was approved, but the closing package says HELOC in some places and refinance loan in other places. Any idea why? Guess I’ll be using my 30% Amex to velocity bank because I’m not comfortable signing anything that says refinance. Am I missing something?

@Jesus-kt5dc 4 ай бұрын

Is it a 1st lien HELOC?

@cinowens1 4 ай бұрын

⁠@@Jesus-kt5dc No, I have a mortgage as the first lien. This HELOC would have been a 2nd lien.

@lunalyn911 4 ай бұрын

Hi Van, I have several cards with high balances. I am paid weekly. Should I put one paycheck a week into each card or should I just pay them off in full one by one?

@Erlinda1125 4 ай бұрын

I have watched a lot of your videos and I love all your videos but You’re making this look easy. No one will give you a line of credit or a Hiloc if your debt income ratios are really high. Otherwise, I challenge you.

@shannoncawelti4861 4 ай бұрын

Hi Christy!! I just got a line of credit, can I pay a credit card with the line?

@roseie101 4 ай бұрын

yes from my experience you should be able to you can transfer funds from your LOC to your checking and then make a payment to your credit card from there

@jennifergardner9343 4 ай бұрын

I sat down and figured out paying my mortgage off based on this method. My question is if i am only able to pay off my mortgage in 7.5yrs is there any point in doing so if they are charging all the interest in the first 7yrs or am I wasting my money?

@JoyToTheWorld70 4 ай бұрын

You still pay interest after the first 7 years, but after the 7 year mark, a bigger portion of your house payment starts to go toward the principle amount. If your figures show you paying off your mortgage in 7.5 years, how is that a bad thing? If your mortgage loan is a 30 year, 20 year, or even a 15 year loan, you're still paying it off in a little over 7 years using Velocity and you are saving yourself thousands in interest. It's a win win! If you want to see how much money you're saving compared to your mortgage loan, use a mortgage loan calculator and you will see the amortization schedule. It's scary and insane when you really look at the numbers and you realize just how much money we are paying to the banks for a regular loan.

@JoyToTheWorld70 4 ай бұрын

On a 200,000 mortgage loan at 6%, your payments would be 1199.10, with 1000.00 going to interest on the first payment and only 199.10 going toward the principle. It isn't until year 18 (payment #223 where you finally start paying a little more into the principle than the interest).

@jennifergardner9343 4 ай бұрын

@JoyToTheWorld70 thank you for the info. On a few other videos I see comments about how this method doesn't work and to just stick with a mortgage.

@Pilot_the_Dune 4 ай бұрын

@@jennifergardner9343 It does work and is beneficial. Paying off in 7.5 years eliminates $1000's of dollars in interest. That is wasting money and not using the power of your dollar to work for you. Mortgage lending is set up where the lender wins, thats why interest is in the beginning off the loan. A regular mortgage is just giving away your money to the lender.