LINES OF CREDIT are the ULTIMATE LIFELINE and they fuel VELOCITY BANKING!

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[@TheCuttaz]

Wow. 250k subs!!!!

[@petuniaromania6294]

How do we email you for financial advice?

[@hannahsilvacom]

Any companies you recommend for PLOCs?

[@lisaburke8993]

Kristi how do we get an appt w you

[@wayne7399]

Great content thanks!! My mortgage is in its final four years of a 15 yr note with a remaining balance of only $41,000 ($1600 pymt, 2.3% fixed). The interest portion is only $84 of the payment. I have ample room on a LOC (11.1%) to pay off this mortgage but does that make sense to do so or should I just continue making the payment until it’s paid off?

[@hannahsilvacom]

I would tally up the remaining interest on your loan and separately tally up the simple interest using the LOC with your extra cash flow paying it down to determine which is cheaper.

[@c.parker8439]

Great coaching.

[@nylabrookes]

I love these videos!! How can I use this to my advantage if I don't have a lot of debt?? I would rather save my paychecks and use my line of credit that I already have to pay my bills but in my head I can't work it out. Anyone see an advantage to using this method even if you're not in debt maybe to save up some money?

[@andrejka_talking_out_loud]

i was wondering the same thing

[@nylabrookes]

@andrejka_talking_out_loud Hopefully we can get an answer or a playout. Cause I see a great advantage in this to save money. And use the bank's money. I would love to see a breakdown, On how to use this without having a lot of debt, I would like to use it to just pay the debt that I create monthly. I'm sure it's simple. I just can't visualize it.

[@VanntasticFinances]

I use LOCs to fund my infinite policies and investments

[@nylabrookes]

@@VanntasticFinances care to elaborate????

[@nylabrookes]

@@VanntasticFinances Just realize who this comment came from. Can you do a video so we can see what that visually would look like?

[@summerd7668]

Can you please tell me how to even start? I can't even get a credit card because I have never had a credit card. Now I am stuck and can't get approved for anything. How does someone start in a smart way?

[@nospeak34]

I started with a discover, contact them and they ask you for cash deposit to start. Make on time payments/pay off the bill every month. They will increase your credit line I think yearly.

[@TycoonLife321]

I have excellent credit score but my debt to income is high..how can i get line of credit

[@vidaliatheonionqueen]

i think any credit card is a line of credit, but, from my understanding, what she's usually referring to is when the bank puts a lien on something you own. typically your home. however, you can only borrow against the difference between the value of your home and remainder of your mortgage to be paid off. it also depends on the percentage your mortgage contract allows you to put a lien on.

[@lunalyn911]

Could you buy a home with a line of credit?

[@khoop16]

Yes

[@sue6870]

Hi Christy I have a question for you if you don’t mind me asking. Is a personal line of credit the same as an overdraft line of credit? Because my credit score might not approve me for a personal line of credit but I may be approved for an overdraft line of credit. I was just wondering if I can still do velocity banking with an overdraft line of credit? Thank you in advance.

[@rvh77]

This is a great question. I'd like to apply for a PLOC but don't know if I would qualify. Then if not the credit takes a hit just for applying 😅

[@VanntasticFinances]

@sue6870 any line of credit works…as long as no fees are associated with withdrawals.

[@macgyverpreppin4056]

OK Jesus, I have a serious question if you have time to answer. I make $25,000 a year. I have a signature loan with $1256 left that I pay $220month on. I have this travel trailer that I owe 18,600 on that I paid $237 a month for and I have a credit card with $3500 on it about five of which was a cash withdrawal to pay off another credit card, so it draws a different interest rate than my purchases from the credit card and I pay $113 on it a month. I am just putting money on the credit card and then using it like these videos teach. So now im looking at getting a HELOC costing about $1300, to pay off the signature loan that’s a 10.95% but the trailer is at 7%. Which would be a winner paying off the trailer or using the HELOC to pay trailer payment and every other bill? I work on a commission type pay so sometime I bring home $1200 a week and worse I’ve seen is 2 weeks no business no pay check. What do u think? I’m getting the HELOC regardless cuz I’m about to start winning.

[@Jesus-kt5dc]

1) From the information you gave me, you're not in a bad situation. The thing that might be stressful is low income, combine with inconsistency. 2) First "I WOULD LOSE ZERO SLEEP" on the trailer loan. The monthly payment (237) compared to what you owe makes it an efficient loan. Just keep making minimum monthly payment. (18,600/237) 3) The signature loan is not bad because you'll pay it off in 6 months. Once paid off you gain 220 in monthly cash flow. (1,256/220) 4) For the credit card continue to use as your main LOC. Run credit expenses and park cash flow on the your credit card. This eliminates your 113 monthly payment. Remember income transfer satisfies monthly payment. (3,500/113) 5) I honestly don't think you need a HELOC. I would probably go with a PLOC and save the 1,300. 6) In your shoes this is what I would do. I would just continue to pay the both loans as is. Run credit expenses through the CC, which eliminates the 113 monthly payment (turning it to cash flow). The signature loan becomes 220 in cash flow in 6 months. Which turns into CF, that you start parking in the CC (113 + 220 = 333 cf). Then in 6 months apply for the PLOC or HELOC because credit and cash flow should have gone up. Making it easier to qualify for either LOC. I know it might not be what you wanted to hear, but that's what I would do. The trailer should be your last worry. Hope this helps, have a great day.

[@macgyverpreppin4056]

@@Jesus-kt5dc yes it does and sorry I forgot to add a minimum $1200 mandatory expenses. I didn’t figure the cost of heloc would be feasible for my situation and the debt I have but even if I pay off the sig loan they said my DTI is still to high for a PLOC and I want to use it to pay off wife’s car and her other stuff IF…. I can drill the math into her head then then just for insurance purposes or get ploc later. I can get cash for the appraisal but will need it back to pay things

[@pepeschley143]

Love your channel, I was watching one of your videos I am in ok shape but someone mentioned that they were going to use velocity banking in planning to purchase. What would you suggest in this situation? If that make any sense. AGAIN LOVE YOUR CHANNEL!