The Latest Trend in the Mortgage World (It's Scary)
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It’s very expensive to be poor
No truer words were ever spoken.
Summs up perfectly
It is very expensive to be stupid, too.
So true. I see people inline at 711 buying groceries. Toilet paper food … paying like 50% more and they look super poor..
@@jorgecendejas7550Which would you say is more expensive? Being poor or stupid?
Why wouldn't banks start this again? The taxpayers bailed them out and no one went to jail.
Because no one can buy a house
Congratulations, *Dale Valskov* I am relieved that you are out there fighting these thugs, We musttake every precaution to protect the elderly and the general public from these despicable con artists. Congratulations to You!! You deserve the Nobel Peace Prize for ensuring our security.
And don't forget after new house comes a new car, new furniture,clothes, surround system etc... people will never have enough if they don't learn to manage what they have
Easy 50k right there
Can't deny the fact that *Dale Valskov* is the strongest bet to bring power back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good, but I don't see that the biggest tech company in the world would put everything at risk just for that.
My heart goes to the entire community for *Dale Valskov* building up something even my grandpa can understand. This is so smart by them to launch it to shatter the doubts and fears of the common folk which is not even correct to begin with. Everyone knows the state of inflation and recession now and the way out is already in progress. Now it's just about catching the big fish
But wouldn't you want to pay more to adhere to Ramsey's dogma?
"You like mortgages?? We're gonna put a mortgage in your mortgage!"
Seriously, though, if a buyer can't scrape together 3% for a down payment, how on earth will they be able to afford to maintain the house? Yes, a down payment is helpful to ensure the buyer never owes more than they can sell the house for, but it's also a demonstration that the buyer is financially capable of saving enough to take care of a house.
x to the z xzibit home loans
@@greg_216
I bought an unmarketable Fannie Mae foreclosure in 2011 for $50K.
$214/Month mortgage.
I made $43K/yr
Mortgage-ception?
@@greg_216 Its also a huge blocker for people to enter the housing market. How do you save for a 20% down payment when your rent is 2x the cost of a similarly sized home? I would think differently maybe if rental payments went towards building credit, but it doesnt work that way either. As with any investment, this one has risks (arguably very high risks), but if you're not buying a half million dollar home and have a good savings plan, I think this could be viable honestly. Still very risky and I could see people easily getting taken advantage of... so its still not great, but could be an option for the right circumstances.
We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some *Dale Valskov* Thanks for keeping us informed during this times of doubt?
As a person and professional you couldn't get any better than *Dale Valskov* he is a very reliable person and an excellent professional in the IT field. He is the type of person you want to work that's passionate, hardworking and knowledgeable. You’re The Best 100%
I rented a houses. Always had friends and family as roommates. This allowed me to save $ to buy a house. Driving the same vehicle for 10 yrs helped as well
It's amazing what you do *Dale Valskov* We need a lot of people with your skills and set who have good intentions and spread love
People have been lied to and believe they are entitled to by a dream home when they aren't even close to being able to afford it. Living within your means is now a lost art.
I did not believe that after the whole FTX drama there's any good to get this year but *Dale Valskov* proved otherwise. Bad timing maybe but it's a great adoption to get this more to the mainstream and raise awareness. Probably a high contender for a top 100 growth
These two are hands down the best Ramsay personalities besides Dave Ramsey himself. You can tell that they have both put in the hard work, sacrifice deep and put in the time to earned their financial success.
They really are my favorite personalities! ❤ 😊
You obviously missed their advice given to an 86 year old woman who’s $30k in cc debt.
You are half right
Order is:
Dave, Jade in close 2nd, racheal, and I don't bother learning the other names cause they need to stay silent when the big 3 are talking
The "are you safe" guy is dead last.
@@zybard01nah, it’s Dave, George, Rachel, Jade, Ken and idk who else is there now
OMG! You guys are saving lives! Thank goodness for this show, imagine how many people who would fall this BS. Take your time to buy house! People don’t get this. Reach out to financial advisors, they will help your this kind of financial traps.
I love what Jade said, is okay to rent and save up. Don’t queue up to buy what you can’t afford
While living in a condo complex, I noticed that many of the residents were driving new cars. Instead of spending $500 per month on transportation, I chose older vehicles and used the savings to purchase a home. Now, as an active duty service member with years of investing experience, I have a stagnant $160k portfolio and am looking for financial advice to improve it and maximize returns.
Could you please leave your investment advisor's information here? I am in despair need for one.
My CFA,
"becky
lou
gordon,"
she a well-known figure in her field. I recommend doing more research on her credentials. She has extensive experience and is an invaluable resource for anyone.
Thank you..just searched her name and it popped up
I look forward to hearing the calls from people who got into this racket.
I put 3% down and got $15,000 towards the down payment that I don't have to pay back as long as I live in the home for 3 years and I can't refinance during that time either.
@@BREEZYM6015how?
Bought my first home with a first time homebuyer program like this, worked great for me.
I know what you mean but I don't look forward to it. I don't care to see people getting themselves in trouble. But I am bracing for the calls, we all know they're coming. :)
We lived 8 yrs in a single wide trailer to become debt free & have enough money saved to buy a small house. We made it thru the 2008 GFC by taking these steps & got our house paid off in 14 years with a combined income of under 100k.
20 yrs later we are still in that house & have no regrets on any sacrifices we made to get here. Definitely take your time, do it right!
I saw adds for home loans that encourage 4 single people not related to each other to get together and take out a loan for a house and all live together.
Trouble in the making.
Crazy town it is.....
That's what people did in the sub prime mortgage crash. And we know what happened then.
I saw a Zillow ad with that scenario yesterday!
@@cindymann3673I saw the same I FREAKED
What could possibly go wrong? That sounds like a splended idea!
I'm a big fan of paying it off quickly. Mortgages suck.
Same
But they help you become a homeowner.... how soon we forget
A necessary evil. But throw everything at it.
My mortgage is 3.25%. In other words, I have a NEGATIVE 1.75% interest rate. I'm better off putting money into treasuries that pay me 5% risk free than paying off my mortgage. I love my mortgage. The bank lost so much money on it.
@@Undefined14 They won't always pay 5%. Time will tell if that rate is cherry-picked.
The way to end inflation is to end the counterfeiting.
Money creation without product creation is inflation.
Make investments to survive.
Jane Roy
My financial advisor , she’s a professional and has helped many become millionaires fr
Yes I am a living testimony of Jane Roy. Jane has changed my financial status for the best. All thanks to mv aunt who introduced me to her last vear
LMAO 😂 I tried investing on trading crypto on my own, never got lucky on this shit
Did anyone of you lose when trying to invest on your own?
Most of these people looking for a subprime mortgage were children when 2008 happened. History always repeats.
100%
I’m really glad they added Jade to the show. I already liked the debt freedom principles of the Baby steps and she made me like the show more as I find her relatable. She made a reference to the SOS Band song Do It Right in this video and my grandparents played that song when I was younger. In another video she sounded just like my auntie when she said “No way girlfriend, please think again”!
Jade and Rachel are the only two I click for when Dave isn't in the thumbnail.
You definitely have my sub. This content is next level. For me Unimantic was the turning point. Please keep doing what you do and keep being you, love it.
They want you to be broke, busted and disgusted... Buyer's beware!!!
Pulling out the same tricks that got us in the 2008 mess.
Absolutely.
Right..when will people learn😮
This is not 2008. Not even close. This is not subprime. This is a conventional fixed rate mortgage with a zero percent second mortgage that just sits on the house until you sell it or pay it off or refianance. What's the downside here?
Exactly. You are correct. Literally the same things other than maybe giving anyone and anything with a pulse a mortgage. I'm still reeling that Barney Frank never went to prison for that.
@@eggman9713the down side is people are irresponsible and will get into a house they can’t afford.. like 2008. Same cake just different flavor
"...Baby, you can do it. Take your time, do it right. " was done by the SOS Band out of Atlanta. The name of the song is "Take Your Time."
Great song!!!! And wise!!
They have a program like this in Fl. It was for heros. Healthcare, police officers, and emergency workers. Realitors were gloating this program like it was gold. They didnt say in the fine print that if you have to refinance or sell your home you owe all of that money on top of any other expenses. I saw if for what it was after going to the website and looking at the fine print. If someone making $40,000 cant afford rent what makes you think homeownership is better. It will bankrupt people.
Giving giant mortgages to people who can't really afford to buy a house. Which by the way forces them to pay even more money in the long run while also giving them no safety net in case anything goes bad. What could go wrong?
Rent already keeps people from saving up a down payment. And rent keeps going up. So it's either take a loan you can do or be homeless, since eventually the rent will outpace your stagnant wages.
Every rent or mortgage is a tiny prison. Terms are irrelevant until you pay it off. The diffrence between 0% down and renting until you save enough for a down payment is that the rent money is going to pay someone else’s mortgage all that time. Might as well pay your own. You will sacrifice either way, so sacrifice for yourself instead of enriching someone else.
As someone who entered the workforce in 2008, I think I got an ulcer after watching this.
😂😂😂
At the end, the big companies and governments want us to rent for the rest of our lives. Some companies are colluding and are raising the price of renting all across the board to squeeze every dollar out of the middle and low class. It’s very hard to save money for a down payment when there is expensive renting going around.
They want you to be broke busted and disgusted!!! Buyer's beware!!!
The middle class hasn't existed for 40 years
There is collusion, but it's in the government and federal reserve printing money
Thank you for having these conversations. Everyone needs to hear this.
The lender is looking to pick up a bunch of foreclosures in a year.
Lol, this lender isn’t going to own a single one of these loans a year after they’re made. They’re getting their fees and shipping them OUT.
You are not correct.
Adam is correct
"What's wrong with renting?"
1 bedrooms in my sleepy little town are starting at $1200 per month. That's what's wrong.
I'm all for financial responsibility, but there seems to be a serious disconnect with some of you guys as to just how bad the problem is.
Owning a home is EXPENSIVE. If you think $1,200 a month is high, wait until you bear all the costs of home ownership. The mortgage payment is just the beginning. At least when the AC goes out or you need a new roof you aren't out $15,000 to $20,000 in one incident as a renter. I spent $200 doing very minor landscaping on my town home a couple weeks ago on top of the work the landscapers already do on a weekly basis. Property taxes and insurance keep increasing. My insurance increased 25% this year.
Bottom line, housing is expensive all around. If you think home ownership is somehow cheaper, you have another thought coming.
Owning a home isn't any better. You'll be paying more most likely and you'll also have a 30 year commitment added to that.
Renting near or in Seattle basically starts at over $2000 a month on up. So to stay above water you need to be making around $100,000 a year or more. Not a good scenario.
wait until you're 1 of those homeowners who lose or can't get home insurance. great times all around
@@GigaChad_169
I’m a debt free homeowner of two doing fine.
All about true affordability.
I guess we know what happens next... 😢
just wait until the millennials start inheriting all the homes from the boomers and the market gets slammed with inventory.
We sure do....
I wish people would realize home ownership is more expensive than people realize. Also, it ties people down to a location. Renting puts responsibility on the landlord and allows people to go where they want. It isn't throwing money away because, for me, it helped me decide what I wanted before I was ready for the responsibility. Some days I wish I was renting so I can look at something at my house and think, "not my problem"
The key is to buy less home than you need and stop buying too much home. Renting is good for the short term, but in the long run, you are making someone else richer.
It depends. Home ownership can be expensive but not as expensive as renting. If you bought a cheap old fixer upper house, sure, everything breaks down and it gets expensive.
Other than that you buy a house in great shape paying for a little repair here and there is nothing.
Owning a house doesn’t tie you down anywhere. People sell their house and buy a different one ALL THE TIME. Renting sucks.
Ok throw money away on something you don't own because you want freedom. Hmmm or sell your house for profit and move. Oh yeah and your lazy if you can't handle the upkeep of your house
Even if you own a home you don’t own it! It’s called property taxes that go up consistently and if you don’t pay them, bye bye house. Sit down one day and figure out how much money you have paid in property taxes over the years, plus home improvements, home maintenance and mortgage interest plus home owners insurance and let me know if you still made a profit on your house once you sold it. Also, don’t forget to add in the points you had to pay when you got your mortgage and if you ever refinanced. Home flippers might because it’s short term but if you have lived in your house long enough you haven’t made the profit you thought.
On top of that you pay property tax for life, if you don’t then they take the house, what a scam
"When you sell the house you need to pay off the second mortgage in full". Idk why they try to make this sound scary because ANY mortgage has to be paid in full when you sell the house. That's how mortgages work,
I think it relates to the mortgage company's ability to chase after you for any difference even after the property is sold. This is the recourse that they have.
@@JWM1984 yeah but that’s any mortgage with any mortgage company. Is it more likely you’ll be underwater with this type of loan sure but it’s not that much different
@@whasian2007 There are certain jurisdictions where recourse is not allowed by the lender, so it sounds like this provision for "full repayment" is able to get around that. Many foreclosures can end with the borrower handing over the keys and letting the lender absorb the loss, so this "full repayment" is probably to prevent that risk. You're probably right about being underwater though, which is the other side of that risk, namely a Short Sale.
@@JWM1984 But if you are in one of those jurisdictions then the "full repayment" would not matter because it still counts as a mortgage and you cannot write a contract that superceeds the law if that is the law in those areas. This is very similar to a lot of other payment assistance programs where they want you to pay in full at certain events is because there is no payment to that loan over the course of time so if there wasn't the pay in full at sale/refinance/paid first mortgage, then you could essentially borrow that money indefinitly because it's at 0 percent and there is no amoritization schedule or payment schedule for the loan so you basically keep the money for free. Thats the real reason why the stipulation is there.
In 2020 I purchased a house at $520k with a 3.5% down and 3.125% 30-year. My house is now worth $800k. We plan on selling and using the momey for a large down payment on a new home. House was worth $850 for a period in 2021. I'm now sitting with at least $250k for a down payment in a house. If i took these guys advice id have saved nowhere near $250k these past 4 years.
Debt is cash. They just don't understand the difference!!
We used a VA loan with 0% down to buy our home and do not regret it at all. Luckily there is no prime mortgage insurance on a VA loan, and really nothing fishy in the loan.
VA and this is not the same! You earned that!
It's called private mortgage insurance
The funding fee can be really high after your first use unless your disabled or start putting DownP
VA is a unique program. Those were always the best imo
Thank you for serving us.
back in 2021 when i bought my first house, i learned that the no money down option is really not good. it comes with a much higher interest rate and other fees attached. the better option for me was to put money down. better option for me was also to go with another financial institution. i was originally with Navy Federal Credit Union.
I was stuck, bought an ARM no money down it was my only option. I did pay it off in 13 years. some situations do work for people pending the financial position they are in at the time. I'm so grateful I did it and have a paid off home now.
No money down means that they're going to charge you out the wazoo for bearing your risk since you don't come to the table with any money. There is no free lunch, so if you don't pay up front, you're going to pay over the long term, which is much worse.
I got a 30-year VA mortgage through Navy Federal in 2008. It was 100% financed, but because it was a VA loan, there was no PMI. I refinanced in 2013 down to 3.25%. I've paid extra on almost every payment and now have automatic transfers set up to transfer money into my NFCU account (which I've had since 1983) and then make a payment to the mortgage. The extra money on each payment is going to chop about 7 years off the mortgage.
One good thing about NFCU is that they hold the mortgage for its lifetime. I've heard horror stories from back in the 80s where a mortgage is bundled and sold between banks and it turns into a nightmare trying to figure out who to send the payment to and payments not transferring, and I've avoided all that with NFCU. I'm not in love with the institution; but they have been there when I was younger and needed money to buy cars and when I was deployed around the world to various places. I really don't like that they waste money advertising their services. If you are in the Navy or Marine Corps, you already know about NFCU and that is the only audience they should worry about, in my opinion.
Me too circa 2005. We were underwater until we sold 10 years later. That's a VERY long time to be underwater.
@UncleDavesKitchen don't totally agree, but you do make some good points. It's all situational dependent and of course other factors out of the Buyer's control play a big factor.
In a ARM, the faster you can pay it off the better. Say you get a 30 year mortgage with an Adjustable Rate, and you are paying double the mortgage payment each month with half the Total amount going as Extra,towards the Principal and the Interst rate increases say 0.1% each year for 10 years, at which time you make the last payment to pay off the loan. In that scenario you came out winning. Similar scenario, but the interest rate increases 1% each year. One you will take longer to pay off the house even with the same Extra amount going towards the principal amount. You will end up paying substantially more, overall, in the end when you Pay off the loan completely.
The short of it (for an ARM), is it is risky overall. The only way to increase your chance of "beating" the bank, is Time. The longer the process continues, the higher the chances are that the interest rate will increase substantially.
This is my humble opinion-view on the Matter.
Never, never, ever get an adjustable rate mortgage. My neighbor did that, he is now making only interest payments since the interest went up. No equity in the home now.
Yikes… that’s like being in quicksand and unable to get out
UWM has the only mortgage payment page I’ve seen that’s loaded with calculators and dials to show you how to pay your mortgage off early, and it’s right on the main page after login, same screen as your payment option. Shows you how much you save making a bulk payment, how much if you add a little extra each month, or what savings would be if you makeup your own payment.
I don’t think UWM created this to be “evil”, more like answering Americans call of “shut up and take my money”.
We did this. Got the mortgage and had a loan for the down payment attached Into the mortgage. You can’t sell the house in 4-5 years but this is our forever home. The only issue is if you can’t afford the mortgage in the beginning. Other than that getting in a house you can afford with little to 0 money down aside from inspections and due diligence is a smart idea to me.
We’ve had 0% down mortgages for a long time, VA loans, USDA loans. I know what the Ramsey folks suggest, being debt-free and then buying everything in cash but at 45 I bought my first house with the USDA loan with no money down, and my mortgage is now less than what my rent was. I’ve never really seen the value and renting to throw away money.I’ve been in the house two months and equities already grown by 18,000. But this has worked for me. Also, good to note, my USDA loan came in at 6% back in February. It sounds like this new gimmick is predatory, but my government loan has been wonderful for me. Ramsey doesn’t practice leasing a car. I don’t know why would we practice leasing an apartment but that is just me
Congratulations, Captain Wow! I bought my first house at 25.
The thing is if everything goes fine it is great. If anything goes wrong you have no equity and were not prepared to qualify in normal methods. If your plan means everything must go right the fail rate is high.
@@professorbenjaminfranklinv9911 oh I get it you wanna be snarky and show off. I hope you have a better day.! you must have a miserable life to just troll people on the Internet and be mean that’s OK cause I’m a very happy person💪🏼
@@joesmith3590 no that’s actually not what it means at all. I qualified just fine for a conventional loan. Oh, OK so in your world if I put more money down and then something breaks, I’ll have more money to fix it? Huh? Or with the money that I saved by not putting down and what I save on rent, I put toward a house fund for repairs. People are such know at alls, but it’s amusing.😆
Agree!
Nice S.O.S Band lyrical reference, Jade! 🤣
George’s face at the beginning is a picture. Completely steamrolled. 😂
When buying a home make sure it's A Blessing Not A Burden!! Love That🙏❤
Jade said it best…”when you get desperate, you get stupid!”
Jadeeee, your reference to that song was perfecttt! George clearly wasn’t ready. 😂
Neither was Jade because she had the group wrong that sang it. The group was the SOS band. 😂
@cynthiah4866 she was closer than me...I'm 50 and didn't have a clue...I know I'm older than her...I do know the song tho...there were a lot of funk bands in the 70s and 80s
I had the opportunity to do zero down on my first home. I put like $1000 down. Found a home that was valued at HALF the amount the bank approved me for. These are ok but be smart.
You have to start somewhere and if this the only way… do it!
Being a first time homebuyer in 2006, our lender did this, 1st mortgage with a simultaneous 2nd mortgage. When I lost my husband 2 years later, I could only sell my home to barely cover my first mortgage and had to pay out pocket to cover the $30k 2nd mortgage.
Now I work as a mortgage processor and have learned a whole bunch! It makes me a little sad each time borrowers use way too much of their inflated equity in this current market.
Jade referencing SOS band had her leap frog George in my favorite co-host rankings 😂😂
But mortgages have to be paid off upon selling the home anyway. Why do George and Jade react like that's a catch?
The issue is effectively you have 100% of your house financed. And 6% of that is the realtors. So if you want to sell, you have to sell it above what it's owed or make the difference. If your house is worth 300k. The realtors take 18k of that if you owe 298k after a couple years payments. You now have to come up with at minimum 18k. And if you couldn't come up with even 10% before... what do you think the likelihood of that person just happen to have 18k lying around? Probably zero.
@@pdxmusl1510Zero down mortgages doesn't usually mean that fees and closing costs are rolled into the loan.
@@pdxmusl1510 Oh, I get that. I'm referring to the reading of the article where Jade says the catch is, the loans have to be paid off upon selling. I'm like so? What's new?
@@DoctorSmartyPants the program loans have to be paid off before you can sell your house, you can still have a mortgage on your house and sell it what part of that don't you understand?
You don't seem as smart as your screen name implies. Don't do it...KISS
zero down mortgages are great, except when people need to use them.
So true. I’m in a mortgage like this not interest free but they expect any subsidiary ever received paid back if do any of the things mentioned. We have been in house since 2007 . Wish we would have followed the baby steps and listened to you all back then. Thought I was always good with money but listening to you all I see so many areas where we have messed up.
I'll play devil's advocate. Rent's sky high. Can't afford to save up. Mortgage rate might be the same as rent. If you get into trouble and can't pay the mortgage you lose your house. What happens if you can't pay rent? You lose your apartment. What's the difference? At least this way there's a chance you come out ahead. Renting you NEVER come out ahead.
These people don’t care if they have zero down. It’s just they want to get into the homeownership SO BAD. And they figure it’s like stocks-who cares if NVDIA is 1200 bucks a share-it’s going to grow at 20% each qtr so they want to get into that. 🤷🏽♂️🤷🏽♀️
Dave Ramsey himself tells people real estate only goes up. Never tells them the risk of a 50% correction
@@thedopplereffect00 Yes...agreed.
It does only go up, however it's your means to pay the loan that goes up and down. He states rules for that.
It was the SOS Band. Love the reference Jade. 😆😂
Yeah she really earned points from me with that one.
My friend just did this. I'm scared for him. Between student loans, child support, car payment, and now a damn near $3k mortgage, he's basically underwater. And he probably makes barely $50k/yr.
People are just too wicked. Introducing something like this to deceive people is simply wickedness.
Imagine you buy a $400,000 home at 0% down and suddenly the furnace goes out... where is that money coming from? Can't borrow against the house. There's no equity at 0% down. So then you'll have to put the furnace on a payment plan. And what happens if something else break? How many times are you going to put things on a payment plan? I love real estate but it becomes a massive issue if you don't have money to pay for issues as they come.
I don't think it's a likely scenario that people would take out a HELOC for a furnace repair or replacement. You either have the cash from your emergency fund, or you finance it. Besides, if there is no equity in the home, there's not gonna be a HELOC available. But yeah, this is really a risky situation to put yourself in. But people are gonna do it.
Look I’m not for this but to play devils advocate… NOT putting money down means you will have the extra money to put towards anything that breaks. And your argument was a furnace lol. Furnaces are cheap in comparison to putting money down
@@calebharris4127 Not anymore, the average furnace/boiler replacement is now around 13K!!
2008 all over again and people be tryna lie blatantly to our face like it’s not. Literally all the signs are there. If you cannot save a regular/traditional size down payment(20%) then you cannot afford the house, period
"What is wrong with Renting!?"
From someone who clearly hasn't looked at Rents since she purchased her home.
There is definitely a housing bubble going on. Several real estate companies in my area are shuttering offices and cutting back staff. The market has slowed to a crawl. If the government ever wanted to meddle in mortgage rates, I think they should set rates for primary residence loans. And another rate for investment property rates. Too many homes were locked up as rentals when rates were low. If you’re buying investment properties, you should either pay cash or pay additional interest.
I think it’s bc there is just so low inventory. Don’t need a bunch of staff when there’s only a small amount of houses to sell.
0% down is useless in this market. For most homebuyers, the monthly payments are the problem, not the down payment.
I was just listening to that song 😂 6:48
When we came from Mexico, my Dad couldn’t believe people actually paid 30 years for a home!! My parents bought a trailer home with a lot and build our house in 3 years! My parents haven’t paid rent or mortgage since 1985!! We got here in 1979!
A financial advice show that doesn’t know who UWM is or sounds like they’re confused about that at minimum is absolutely ridiculous… also a 0% interest loan to get a home is reasonable for the second.
The harm in renting is you’re burning money
I'm convinced that investing $50k-100k in the right company before it goes big is more important than saving for retirement. However, picking the right company is so hard that saving might be safer, cuz who would've guessed Nvda? I have around $200k in a HYSA and want to invest. What are the best opportunities now?
I believe investors should start with S&P 500/ETFs for a solid foundation, then diversify across asset classes and maintain disciplined, regular investing to minimize risks and maximize growth.
For someone starting with $200k, begin with S&P 500 ETFs, diversify across asset classes, and invest consistently to minimize risks and maximize growth. Partnering with a financial advisor can help streamline your strategy. This approach turned $80k into $53,000 in annual dividends.
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
TERRI ANNETTE MOORE is her name. You may look her up online; she is a reputable financial counselor in the US with a license.
Thank you very much. Seeing her page allowed me to leave her a message.
hubby and i used the last 5 years of my active duty to save up and buy a house while slowly paying off our remaining debt. barely two months after discharge, hubby’s branch gets closed down due to some directors embezzling followed few days later, with a hospital call saying his side pains are due to the cancer he just tested positive for
now, simply pulling into a gas station is gut wrenching. the possibility of buying a house doesn’t even fucking exist to me
we rented when rent was about the same as a mortgage (11yrs) ... but when covid hit the real estate market, the rents were DOUBLE the cost of a mortgage ( and the property was limited use, no pets, no earning money in the garage, no gardening, basically a standalone apartment)
House values also almost doubled since Covid.
It's not back. Because they always existed.
The current 0% down programs are limited in scope. You either have to live in a rural area or be a veteran. This one is a conventional program
@@Namdrahsirhc They still always existed.
Idk if you know what "always" means, but they've both existed for awhile
@@Namdrahsirhc That's what I said.
@@NamdrahsirhcVirginia has had 0 down mortgages for at least the last 10 years, it has income and loan limits, but in northern VA you can make up to $200,000 and use it for a house up to $725,000
The CEO is currently building a 60,000 square foot house with a guest house. Keep the money flowing.
The American dream is a house, but they'd rent then get a small crappy starter home and then the dream home. Today everyone is trying to jump right into dream home cause that's what they are used to growing up and it's killing them financially
If you can’t save even 3% for a home mortgage down payment you are very likely to not have anything saved when you hit a bump in the road financially in the future
You guys act like people still don’t have to go through the pre-approval process before getting the loan lol. If anything it’ll be harder because the loan amount is larger. It’s not 2007 when u could buy a $800k house off of a McDonald’s salary & fake docs.
Pre-approval is garbage. We see all the time people making 30k a year and 100s of k in debt. The person taking the debt absolutely should have known better. However... as a lender... you have to ignore a lot of problems to approve.
If the approval process protected anyone Ramsey would be out of a job.
The issue is they’ll approve you to pay 45% of your monthly income to the mortgage and then you go get a new car to go with your new house and suddenly your minimum monthly obligations are 100% of your monthly income 😅
@@pdxmusl1510 lending conditions are extremely tight, especially with the current interest rates. So someone making $30k with a lot of debt isn’t getting qualified for anything. Also even if the lenders let things slide, the underwriters (who are all salaried, not paid with real estate sale commissions) won’t let it slide. These underwriters are picking people apart nowadays lol.
This isn't that crazy. We have 0 down VA, USDA, and even conventional (97%ltv plus state backed 4% loan that is forgiven in 10 years)(no minimum property standards like VA and USDA loans have so our poor buyers can get in a real fixer upper)
So yeah, this is not novel at all.
I was offered DP assistance as a single mom. The terms were crap and I knew it. I toughened up and saved my DP in 4 months and just moved into my brand new built home with equity and a 5.5 interest rate fixed (two years after a bankruptcy from my divorce). Take your time and do it right ….🙏😊.
Hi from England Thank for this, because no doubt this Country will follow ,xxx
I am totally fine with waiting for the next housing crash to buy my next home. This is great for first time home buyers since 2008-2009 housing crash.
prices would have to drop 50% in my area to hit 2019 prices. The housing crash was ~25 to 30%..... it would have to be 2x worse than 2008. I just don't see that happening.
@ehren5347 true, but if you count inflation since 2019 it won't be too far off.
I'm planning on doing the same, but I'm afraid Blackrock is waiting to swoop in as well.
I'd watch that carefully though. Banks are artificially controlling inventory to balloon housing prices. These banks are crooks.
Even a broken clock is right 2 times a day.
Let me know when your prediction happens, Nostradamus. You think next year, 10yrs, 30yrs from now?
The question is how to convert your salary into the investment funnel without double taxation. you pay taxes once it's earned, then buy stocks etc and get taxed again once you sell for gains. How do I skip the first tax stage? I want to invest over 300k on the stock market, how do I achieve this
I have been doing the same thing myself, using the market to shield myself from the market. But I hate making mundane decisions, so I just invest through an advisor, making good profits, avoiding taxes, while doing very little work.
I Can't get into trouble with the IRS when I have no income and all my money is in stocks. I don't like doing the work though. Lol. So I just invest through an advisor who does the stock picking. My money grows, and I'm tax-free.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
There’s also a reason Dave Ramsey is a multi multi millionaire - he’s not doing this to be generous
Renting is outrageous too
Cool, in 4 years I'll be buying one of these peoples foreclosures for cash, at 40% off.
I'm planning on doing the same, but I'm afraid Blackrock is waiting to swoop in as well.
No you won't, the bank will bet against you and way over the original price. Either that or a major corporation will.
40% off would be fair market value for whatever houses you buy. LOL
George’s face at the beginning leads me to believe all of these personalities hate each other 😂
00:10 💯
At the rate things are going, some ppl will never own a house if they wait until they're debt free and all that jazz...it's sad but true....
Bought a house in 05’. We were mid 20’s and just out of college. We are so thankful we took a chance and bought even when we couldn’t afford a down payment. Our house is worth 3 times what we paid and our 2nd mortgage (down payment)paid off for many years. So sad those 20 year olds don’t have the same advantages. It would be murder to take this same path in 2024. Now we will be mortgage free years before retirement and able to invest those mortgage payments for years. We need to do better for the future generations.
Wage slaves by design
The proper term is "peasant" or perhaps "pleb" your job is to produce a predictable return. You can live off anything above that.
This is just feudalism with extra steps. Or perhaps Roman patronage...
Sounds like a great program imo. Borrowing money interest free for a house in this day and age gives people more flexibility. Why not exercise this option even if you got the money in the bank?
It's 0% down (no down-payment), not 0% interest.
@@bottlefed90gtthey clearly said that a portion of it is 0% interest (I.e., the down payment basically).
The problem is that there aren't a bunch of bankers sitting behind bars from the last time they tried this. The government even propped up these criminal companies instead of letting them go under. There isn't a downside for the bankers that want to try this again.
I'm glad I didn't hear this a few years ago, I am very happy with the 0% down mortgage I got from NACA. It's the real deal, no closing costs, no mortgage insurance (PMI or MIP), fixed 30 year interest rate in the 2% range.
New construction home with a mortgage payment that is less than rent for the average studio apartment in my area and less than 20% of my income, oh, and homes in the neighborhood are selling for over $100k more than my purchase price, so I do have equity.
I also rent out a spare bedroom/have a roommate that brings in additional income which has allowed me to build a robust emergency fund and pay off all non mortgage debt. I could not have achieved this in a rental, so grateful I had the opportunity to come in with 0 down. Definitely a blessing and not a burden.
Is it me or do they both seem kinda of jealous?
*Thanks for keeping us updated! I feel sympathy and empathy for our country. low income people are suffering to survive, and I appreciate Amanda. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading*
I began investing in stocks and Def earlier this year, and it is the best choice l've ever made. My portfolio is rounding up to almost a million, and I have realized that when a stock makes it to the news. Chances are you're quite late to the party, the idea is to get in early on blue chips before it becomes public. There are lots of life changing opportunities in the market, and maximize it
What opportunities are there in the market, and how do I profit from it?
You can make a lot of money from the market regardless of whether it strengthens or crashes. The key is to be well positioned.
I would really like to know how this actually works.
All you need is a good capital, and the service of a professional broker, with those your investment will most certainly produce high yields.
I LOL'd recently when one of my younger colleagues told me there's a new thing called 'assuming a mortgage'!!
Not a house of course, but sounds like me on my first car loan - 18 years old first job, car cost 7k.
Borrowed something like 5k from the dealer, and the 2k deposit from the bank.... back in the day (1980s) when I had to turn up and talk to the bank manager to ask for the money!
I was 18 right out of school, no savings to speak of, certainly not thousands.
Yikes - of course I wouldn't do it now, not even sure either lender would happy if they knew I was effectively borrowing 100% but was a confident kid - and FWIW didn't lose my job so it was all paid off after 3 years.
Lenders and realtors also push these mortgages (all of the risky types) and their sole incentive is to close the deal. And you have people that not only don’t understand their day to day finances, but bigger financial decisions like mortgages. AND a lot of these people looking for homes now, weren’t old enough to understand what happened in 2008+, so they don’t realize how bad of an idea this is
Jade is my favorite Ramsey personality; she comes across as so genuine and relatable.
in 2004 purchased a home w 80/20 loans (6.0% and 8.0%)....worked out just fine.....may work for some people ...... was cheaper than paying PMI...refi-ed a couple times over the years
When we first bought our first home, comments about how great it was we could use the interest as a tax write off. What they didn't tell us was the interest we paid is multiplied by our tax rate (not the whole amount of interest), and that is what is the write off. And the first 10 years the payment is mostly interest, so not even hitting the principal. Then you move, and start all over. Now, save up, put as much as you can down, then make double payments or a 15 year payment, otherwise, the house is a big anchor.
Most people don't deduct interest anymore