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How to Shell out Off a Mortgage loan Swiftly




Proudly owning a residence is a common American desire. Regrettably, in present day culture individuals have turn out to be complacent with 30-calendar year home loans and paying hundreds of countless numbers of bucks in desire. We have complied suggestions from 5 industry authorities on why it truly is vital to pay back a home finance loan off rapidly and how to can pay back off a home finance loan rapidly. Abide by these actions and you may be forward of ninety eight% of the populace.

43 comments

  1. Everyones gotta pay their dues I mean yeah it sucks to have to pay that much more but they helped me put a roof over my families heads when I didn't have XAmount of money to pay a home right out. So I see it as they helped me so I help them but at the same time fuck yeah I'm gonna push to make principal payments n hopefully only buy them half a house lol

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  2. in my dreams I will pay the mortgage early…..

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  3. but you can't walk away, or get any gains in Stock market. if you have a sub 4% intrest rate and won't blow extra cash then invest.

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  4. Well I don't know everything but I do know about my own mortgage. I borrowed $108,000 and I'll potentially pay $194,000. That's not the $300,000 he said in this video.

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  5. Hello Dave, If one wishes to pay extra, does one save more in the long run by paying extra to the mortgage monthly or yearly? According to my lender, yearly is better "because it's more organized for the bank", she said. But, after using a mortgage calculator, I get MUCH better results paying extra monthly. Which one is better then, monthly or yearly?

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  6. scam

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  7. Unfortunately, none of the video clips talk about using a HELOC to pay off the mortgage early… There's a strategy that allows you to NOT add a single penny to your existing payment nor adjust your expesnes… Just a matter of habit change. I've seen mortgages being paid off in 2/3 less time and interest expenses using the HELOC strategy

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  8. Agreed. I wanted to pay my house off in under 3 years. So I took a job that pays 8-11k a month, and so far I'll have it done in 3 years or less 🙂 So I have my monthly payment, plus I add 7000 a month to the principle every month. It says I should have it paid off by 10/2019 🙂 YESSSSSSSS, maybe a bit sooner, but fingers crossed, the original maturity date was 2046.

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  9. This calculation doesn't really factor in inflation (which is a huge amount. imagine if inflation is 3%. Even if you never paid down the principal, it would mean 3% is being paid each year) a hundred grand this year is not the same as it will be in 20 years. inflation means your wage in 20 years will be far higher (although I personally totally agree with paying it off asap). It's sad that such a huge calculation so often forgotten in the cost

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  10. Even after you pay off the house.

    The government still owns it.

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  11. if you send in partial payments the mortgage will simply put the money in a suspense account until there is a full payment amount, then they will pull it out when there's enough there to make a payment. BofA doesn't accept partial payments (found out the hard way when they sent me a payment back). There may be another way to beat the system, but so far I haven't seen it.

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  12. Its good to have a paid off house but you still have to pay the damn property tax every year. You shouldn't have to pay property tax if you paid off your mortgage or you are over 50 years old.

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  13. They used Dave Ramsey clip to make it seem like he collab with them. This is a scam Ramsey believes in living within your means not this crap the voice guy is talking about

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  14. easiest way…take your monthly payment divide by 12 months and add that extra each month…one extra payment a year. knock off 5-7 years. i dont like bi weekly payments..gotta pay all kinds of fees etc..

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  15. So does anybody have the interest for each payment on a 30 year loan at 4%? Obviously it isn't 4% a month because of front loading, but what is it per payment? And with the tax deduction, what does it come out to? And knowing I get between 7% and 10% in a stock market index fund/ETF, would the liquidity be better than being "house-poor"?

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  16. FACT: muslims are not allowed to charge interest to another muslim.

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  17. someone told me that muslim banks do NOT charge extra pa yments to muslim customers if they buy a house through that particlular bank.
    if that is true, you do not have to pay INTEREST RATES if you become a muslim.
    now, how come people are too slow to convert? i mean, look at all the money you save over , say, twenty five years.

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  18. Helocs are dangerous, If you fail to pay the payments the bank can take your house.

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  19. I don't have grass, i have rocks in my backyard… crap.
    There goes another 5k to install grass

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  20. So what if I pay for the deposit and it's a four bedroom place. I want to either let friends or appropriate candidates live there and pay me their monthly rent I set for them, this in turn would pay my mortgage off with out me putting most of my money to it. Please someone correct me if I'm wrong but it seems like the best way. You would be rent free because they are paying it.

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  21. It's funny – these gate keepers don't tell you the whole truth. You can pay off your mortgage much faster with other methods. Such as HELOCs and SWEEP accounts.

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  22. this is Bullshit why double up on payments 1 missed payment and they will still take the house. it is better to have line of credit against house bc you can actually access the cash you are putting into mortgage

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  23. Mortgages are very hard to understand.

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  24. Fuck you!

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  25. This is not a how to video. The title should instead read something like "Why you should…"

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  26. how do I pay off someone moragte and not pay for a gift tax?

    I want to be anonymous

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  27. so you still didn't get what I meant. hope your business flourishes.

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  28. Chase don't let you make weekly payments. If you do it 6that way they hold it and use it for free unless you make a full payment. Also I do extra principal payments as often as possible. Can you tell me if it is legal for banks to limit your weekly mortgage payments as I am told I am on the pay off anytime situation. Next question
    Why can the mortgage lenders require you to keep a escrow account with money in it and use your money for free? This should be changed.
    Thank you for any help.

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  29. If you folks believe that Ramsey is a 'follower of Jesus' it would behoove you to conduct a Yahoo search for the mega-mansion that Ramsey lives in. It's over 25,000 sq ft! Jesus said, "It's easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom."

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  30. The monetary system is build to keep the everyone working in the economy. To get "our own homes" Americans have to borrow money from these giant corporations only if we promise to pay for over 30years, which initially was meant to serve our benefit but due to criminal interest rates, after we pay our 30year mortgage is paid off, we have paid for the equalivalent of 3 houses. 1 for you and 2 for the bank. Not to mention still having to pay property taxes for the duration of the existence of the property. I believe the government charges that tax just so they could take it if you or your children ever stopped being able to pay it. We technically never own our land..

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  31. If you wish to improve and quickly tackle your mortgage, you can start by dealing with reputable companies. If you are in California, we can help you. See our channel for more information.

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  32. How to pay off a mortgage quickly? Simple, don't get one!

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  33. You can learn about FHA by following this twitter feed: https://twitter.com/fha All the guidelines for early payoffs can be included.

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  34. Banks are the biggest organized crime in the world

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  35. If I write off my mortgage interest payments at tax time, does the IRS cut me a check for the sum of what I paid in mortgage interest? Ive always wondered how that works.

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  36. Dave Ramsey's a tool! And throwing discretionary income into the house is a losing proposition in this day in age! Why would anyone do that when index funds have a much higher yield? The goal should be minimum payments and then refinance to another 30 year when the opportunity arises to get a lower rate! I never pay it off! I never pay it off! I never pay it off!

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  37. Don't wait to pay it at the end of a month pay extra principle payments by the week and regular payments by the month I did and the interest on the loan came down much faster then if I had paid it on a monthly basis,I had called my Mortgage Company which was U.S Bank and made sure I could pay it using my online bill pay and that any extra payment would be going to the principle payment only- since my Mortgage was set up for auto withdraw out of my saving account,I now have it paid off use a mortgage calculator online and print out the amortization and write on it every time you make extra payments to track the loan.

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  38. Such nice information that is indeed worth sharing to all home buyers.

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  39. If you pay off your mortgage it make is much easier for creditors and other people to sue you.

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  40. If you are smart enough to work for yourself from home ……

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  41. 11 Great Reasons to Carry a Big, Long Mortgage
    Reason #1: Your mortgage doesn’t affect your home’s value.
    Reason #2: A mortgage won’t stop you from building equity in the house.
    Reason #3: A mortgage is cheap money.
    Reasons #4 and #5: Your mortgage interest is tax-deductible. And mortgage interest is tax-favorable.
    Reason #6: Mortgage payments get easier over time.
    Reason #7: Mortgages allow you to sell without selling.
    Reasons #8 and #9: Mortgages allow you to invest more money and to invest it more quickly. Mortgages allow you to create more wealth than you otherwise would.
    Reason #10: Mortgages give you greater liquidity and flexibility.
    Reason #11: You’ll never get rid of your monthly payment, no matter how hard you try.

    http://www.edelmanfinancial.com/education-center/articles/1/11-great-reasons-to-carry-a-big-long-mortgage#.VMruERLO4zc.mailto

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  42. I'm living Debit Free thanks to Dave Ramsey's advice.  Credit is for suckers.

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  43. I like Dave Ramsey for his beliefs in saving and managing or paying off your revolving debt but his thoughts on paying off your mortgage early is more of a religious based idea of not having debt or owing others than a good money management plan.  A 25 year old who has purchased his first home should never be throwing extra money towards his mortgage, he should be investing that money in something consistently so that money multiplies like gangbusters and he gets the maximum tax benefit from his mortgage interest.  I love Daves ideas of paying cash for things but you need to understand money, using credit in a positive way, opportunity cost and the basic "time value of money" and you will see how he is not
    quite the financial guru people claim he is. 

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