I've seen so many of your examples. What would make this go completely left? It seems so easy but I got screwed from a HELOC. I obviously didn't know what i was doing but it took me 16 years to pay off $20k and I vowed to never do it again. I have approx $32k left on my mortgage with a maturity date of 2032. I would love to pay it off early but am terrified of another HELOC. What happens to the cash flow? Is it going in to pay down the balance?
Logically yes. Reality, no. You actually have a max out HELOC, where the HELOC issuer gets paid second if you go into foreclosure. So most likely they'll close your 2nd position HELOC, trying to mitigate risk. Unlike 1st position HELOC where HELOC and mortgage are one. The HELOC issuer gets paid first if you get foreclosed.
Most of the time local Credit unions give better rates. Just ensure if doing a first heloc is attached to the same bank you have a checking account with for bills that require a checking account to pay them with.
“Her children are grown so she couldn’t sell them.” hilarious 😂😂😂😂
I would love to get out of debt!!
Thx Again! Another VANNTASTIC!) Tutorial 🎉😊
I've seen so many of your examples. What would make this go completely left? It seems so easy but I got screwed from a HELOC. I obviously didn't know what i was doing but it took me 16 years to pay off $20k and I vowed to never do it again. I have approx $32k left on my mortgage with a maturity date of 2032. I would love to pay it off early but am terrified of another HELOC. What happens to the cash flow? Is it going in to pay down the balance?
Email her and set up an appointment for your questions.
@@louiel8569thank you
How did you get screwed??
Question. Couldn't she just get a second lien heloc and pay off the mortgage would that then make it a first position?
Assuming she has the equity to pay off the mortgage.
Logically yes. Reality, no. You actually have a max out HELOC, where the HELOC issuer gets paid second if you go into foreclosure. So most likely they'll close your 2nd position HELOC, trying to mitigate risk. Unlike 1st position HELOC where HELOC and mortgage are one. The HELOC issuer gets paid first if you get foreclosed.
Is it best to use a national bank like chase or flagstar, or a local credit union? How long after you get your mortgage can you apply for a heloc?
Most of the time local Credit unions give better rates. Just ensure if doing a first heloc is attached to the same bank you have a checking account with for bills that require a checking account to pay them with.
And there's no job that would give you 10,000 to pay on it❤
She teaches you how to pay it off with the money you already make
Stop being an idiot Karen
Missing new videos. Where have you been and why are you recycling these?
I hope you are okay and have a Merry Christmas