Damn thats a good idea to use your property tax money in your cash flow instead of leaving it sitting in escrow...why didnt I ever think of this....good video
Love the attention to detail. One thing I would add is call your mortgage servicer to verify if they have a limit in how much principal you can pay without a payoff request. Mine has a limit of 15k every so many months. Just FYI for all.
You should work with some people to mentor so that you can reach others!! This is your calling to help ppl bro I’m willing to learn to help others with you
Denzel Napoleon Rodriguez If i wasn’t so heavy in debt I wouldn’t even think twice of making the payment... is there any type of scholarship program? I spoke to great almighty King of Kings to guide me where I can get out of this debt and to be able teach others and I found ur page.. I am not looking for money from this but to be able to be a blessing to someone else and be able to pass this to our brothers and sisters as you do for me.. debt causes ppl to lose sleep 😴 and couples to fight and marriages to end.. I just want to walk in right light brother if there is something I can do please let me know
if you want to take it another step.... use a credit card to pay all of your monthly expenses then use your HELOC to pay off the card (in full)at the end of the month....-results---average daily account balance remains lower for the month(less interest paid) and also you are are able to get points and miles on your card for stuff you had to buy anyway... look up Choose FI (podcast)
Hey Denzel! Thank you for this video! I spoke you about a month ago and have started chunking at my mortgage with my heloc. My initial chunk was fairly small just to prove to myself that it works and so far I'm feeling good. My question is..bc I started late this year with Velocity Banking with my mortgage... there is a max amount i can put into my mortgage for 2018 ..should i chunk 26K all at once from my heloc to my mortgage and velocity bank? Or should I just stick with smaller chunks? Thanks!!!
It’s ok being a little aggressive every now & again. You are not mean & some us need to hear it! Like near the 23:00 minute time, you were teaching with a little preaching, lol. However it made me think 💭 & I like the way you spoke with PASSION. Keep up the good work, Denzel!!!
Hi, around 15:10, when you say that if you chunked 10K/12K/15K or whatever amount is to a particular debt that you are tackling (in this case the mortgage), you just satisfied the month payment. So, that means ONLY that particular month, you don't pay the normal/monthly mortgage of ($1,656.87) because you just sent over a big chunk of money correct? The next month, you have to continue to send your regular monthly mortgage payment correct? Nice video by the way. Very helpful.
I caught that too... I believe Denzel didn't have that actually correct (2 yrs ago). You will still need to make your regular payment "along" with the chunk. His later video will show that.
if there is no such thing is amortize interest then why do major banks make a clear distinction when applying for a loan or a line. Can you answer this. Also if you pay 1,000 extra toward your mortgage one month and I pay 10,000 in the same month. Who pays less interest the very next months payment
you guys sound like your coming from Dave Ramsey method of debt snowball which takes so much longer to get debt free. Math is math. Math doesn't care about opinions it just provides results my friend.
Kind of off-subject here, but when paying credit card is it better to pay early in the billing cycle or wait until due date? Also, it has worked out better for me to split up my credit card payments weekly, rather than paying in full in one payment (as most normal people do). Any thoughts on that style of payment?
every situation is different it's hard to answer that when everyone is getting paid differently some might find it easier to pay themselves back weekly or monthly as long as you satisfy statement balance on the credit card you avoid interest
Credit cards are best to be paid before the “ statement date”.. check your statement and see what it says the statement date is. Due date are drop dead last date to pay never do that.
Hi Denzel this is great stuff. My question is since I no longer have the escrow account. When is a good time to pay the property tax and will this delay the time line of me paying off my mortage. Thanks again Denzel
unrelated...: i was curious about that song that you were singing to yourself at the beginning. i found it {by sade} and think its great. its old but i don't recall ever hearing her sing it. added to my playlist. thank you.
Once again, thank you. God has definitely given you that gift of being able to teach my man. Blessings to you bro. I will contribute (Patreon) for years to come bro. I just ask that you continue to help (answer a question or 2) once in a great while if I get stuck.
The Lord has helped me find your channel at the age of 46 (late in the game). I have lots of damage to undo but I am grateful bro. by the way, I plan to up to Tier 2 Lord willing, come Jan 10.
What can I do with poor credit, low cash flow and only couple credit cards? Called credit unions, only secure-personal loan-amortirized! No simple interest offered!!!
back to square one building credit watch this video all the way to the end. I mention a company called credit my rent there is many other ways to increase credit as well education is key and start investing in yourself th-cam.com/video/DHlrIuA1kgs/w-d-xo.html
Walt Whitman this is false there is a clear CLEAR difference between amortization and simple. If you had an amortized mortgage and I had a simple interest mortgage with the same interest rate who pays more? Which would you rather have simple or amortized
Bobby D it boils down to what are you going to do to pay off your mortgage now I can mathematically show you how to pay it off faster than just making extra payments but at the end of the day it’s ultimately up to you. I’m not going waste time trying to convince people. I only want to help people that need or want the help. That’s what I’m here for
when i say link in terms of credit cards it would be setting up autopay. Link is just having a debit card saved to the credit card. I don't want you to be confused on that
yes I have videos for different countries so far it works everywhere. I have not been delayed by any country yet. Maybe a small developed country but for the most part this concept is universal
I can’t believe you’re on 23!!! Mature beyond your years...
Damn thats a good idea to use your property tax money in your cash flow instead of leaving it sitting in escrow...why didnt I ever think of this....good video
🤯 it clicked!!! I'm sold. Thank you sir! I'm about to tackle this 230K of debt. 💪🏾😠
Love the attention to detail.
One thing I would add is call your mortgage servicer to verify if they have a limit in how much principal you can pay without a payoff request. Mine has a limit of 15k every so many months. Just FYI for all.
Stephen Barrera wow that is vital information thank you
I love your beginning years of you showing VB. Good luck
You should work with some people to mentor so that you can reach others!! This is your calling to help ppl bro I’m willing to learn to help others with you
Hidden Unknown join my program I already got it going
denzelrodriguez.com/masterclass
Denzel Napoleon Rodriguez If i wasn’t so heavy in debt I wouldn’t even think twice of making the payment... is there any type of scholarship program? I spoke to great almighty King of Kings to guide me where I can get out of this debt and to be able teach others and I found ur page.. I am not looking for money from this but to be able to be a blessing to someone else and be able to pass this to our brothers and sisters as you do for me.. debt causes ppl to lose sleep 😴 and couples to fight and marriages to end.. I just want to walk in right light brother if there is something I can do please let me know
Hidden Unknown I have other options
calendly.com/denzelrodriguez/60min
Hidden Unknown let me know if this option works
calendly.com/denzelrodriguez/60min
if you want to take it another step.... use a credit card to pay all of your monthly expenses then use your HELOC to pay off the card (in full)at the end of the month....-results---average daily account balance remains lower for the month(less interest paid) and also you are are able to get points and miles on your card for stuff you had to buy anyway... look up Choose FI (podcast)
Keep delivering that sauce💯👍
Breaking it down 👍🏽💯. Great teacher!
I love this guy!!
Good info, typically if you have PMI, you have FHA loan which requires ESCROW account.
Hey Denzel! Thank you for this video! I spoke you about a month ago and have started chunking at my mortgage with my heloc. My initial chunk was fairly small just to prove to myself that it works and so far I'm feeling good. My question is..bc I started late this year with Velocity Banking with my mortgage... there is a max amount i can put into my mortgage for 2018 ..should i chunk 26K all at once from my heloc to my mortgage and velocity bank? Or should I just stick with smaller chunks? Thanks!!!
I can't answer this blindly without knowing all the variables. I have to take time in viewing the numbers. I do not want to steer you the wrong way
Amazing Instructor! God bless you D.
It’s ok being a little aggressive every now & again. You are not mean & some us need to hear it! Like near the 23:00 minute time, you were teaching with a little preaching, lol. However it made me think 💭 & I like the way you spoke with PASSION. Keep up the good work, Denzel!!!
Just teach the product the expleitives are not needed.
Hi, around 15:10, when you say that if you chunked 10K/12K/15K or whatever amount is to a particular debt that you are tackling (in this case the mortgage), you just satisfied the month payment. So, that means ONLY that particular month, you don't pay the normal/monthly mortgage of ($1,656.87) because you just sent over a big chunk of money correct? The next month, you have to continue to send your regular monthly mortgage payment correct? Nice video by the way. Very helpful.
correct and correct
I caught that too... I believe Denzel didn't have that actually correct (2 yrs ago). You will still need to make your regular payment "along" with the chunk. His later video will show that.
Example:income 6000$, loc 6000$, car 600$,chunk 6000$ what’s should I do next
Nice Mortgage break down, please keep teaching the masses.. Additionally Denzel, why will you never acquire a Mortgage??
Never my friend. I will use the banks money or my life insurance policy to buy a home and pay nothing in interest to pay myself back.
matt S Tune in for the next video I release you’ll notice the title :)
if there is no such thing is amortize interest then why do major banks make a clear distinction when applying for a loan or a line. Can you answer this. Also if you pay 1,000 extra toward your mortgage one month and I pay 10,000 in the same month. Who pays less interest the very next months payment
you guys sound like your coming from Dave Ramsey method of debt snowball which takes so much longer to get debt free. Math is math. Math doesn't care about opinions it just provides results my friend.
Walt Whitman isn’t that the debate whether to use your own cash or to do Velocity Banking????
Kind of off-subject here, but when paying credit card is it better to pay early in the billing cycle or wait until due date? Also, it has worked out better for me to split up my credit card payments weekly, rather than paying in full in one payment (as most normal people do). Any thoughts on that style of payment?
every situation is different it's hard to answer that when everyone is getting paid differently some might find it easier to pay themselves back weekly or monthly as long as you satisfy statement balance on the credit card you avoid interest
Credit cards are best to be paid before the “ statement date”.. check your statement and see what it says the statement date is.
Due date are drop dead last date to pay never do that.
Hi Denzel this is great stuff. My question is since I no longer have the escrow account. When is a good time to pay the property tax and will this delay the time line of me paying off my mortage. Thanks again Denzel
unrelated...: i was curious about that song that you were singing to yourself at the beginning. i found it {by sade} and think its great. its old but i don't recall ever hearing her sing it. added to my playlist. thank you.
does the chunk payment include that months mortgage payment in the month we chunk or do we chunk it principle only?
Once again, thank you. God has definitely given you that gift of being able to teach my man. Blessings to you bro. I will contribute (Patreon) for years to come bro. I just ask that you continue to help (answer a question or 2) once in a great while if I get stuck.
You know it I'm here
LoC's charge interest on an average daily balance
YaH bless You .
The Lord has helped me find your channel at the age of 46 (late in the game). I have lots of damage to undo but I am grateful bro. by the way, I plan to up to Tier 2 Lord willing, come Jan 10.
What can I do with poor credit, low cash flow and only couple credit cards?
Called credit unions, only secure-personal loan-amortirized! No simple interest offered!!!
back to square one building credit
watch this video all the way to the end. I mention a company called credit my rent
there is many other ways to increase credit as well education is key and start investing in yourself
th-cam.com/video/DHlrIuA1kgs/w-d-xo.html
Walt Whitman this is false there is a clear CLEAR difference between amortization and simple. If you had an amortized mortgage and I had a simple interest mortgage with the same interest rate who pays more? Which would you rather have simple or amortized
Bobby D who pays more answer me that
Bobby D it boils down to what are you going to do to pay off your mortgage now I can mathematically show you how to pay it off faster than just making extra payments but at the end of the day it’s ultimately up to you. I’m not going waste time trying to convince people. I only want to help people that need or want the help. That’s what I’m here for
th-cam.com/video/XLSMEwPnB2A/w-d-xo.html
what can i do if my credit card not let me link my acc denzel
when i say link in terms of credit cards it would be setting up autopay. Link is just having a debit card saved to the credit card. I don't want you to be confused on that
Why 66%
I think it’s a space for emergencies that happen
Does this work in europe?
yes I have videos for different countries so far it works everywhere. I have not been delayed by any country yet. Maybe a small developed country but for the most part this concept is universal
@@DenzelNapoleonRodriguez
Thanks for your quick respons. I will watch more video's. Greetz from Belgium.