How Does A HELOC Work, Practically

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  • Опубліковано 1 гру 2024

КОМЕНТАРІ • 22

  • @OurRetireEarlyJourney
    @OurRetireEarlyJourney 6 місяців тому +3

    We utilized a HELOC prior in our lives and it was immensely helpful in putting on a roof and driveway.

    • @ReplaceYourUniversity
      @ReplaceYourUniversity  5 місяців тому +1

      They are incredibly practical in helping out with house projects!

    • @Cecily-g3v
      @Cecily-g3v 3 місяці тому

      @@ReplaceYourUniversity i need help getting a heloc done. i live in the United States Virgin Islands and they rip us off here where the mortgages are high.. no one local can survive living here anymore

  • @Njhomes-sv8em
    @Njhomes-sv8em 2 місяці тому +1

    If I have mortgage loan about 80% of my house value which a total of 400k , how could I got to same bank or other to tell him switch the debt to HELOC ? need help with that ! I also know it will covert to adjustable rate as HELIC debt

  • @bluesky2145
    @bluesky2145 Місяць тому

    So where do you look for the best terms and features of HELOC and what terms and features should I be getting in today's environment? Great video by the way

  • @Lanon0987654321
    @Lanon0987654321 Місяць тому

    I am curious as to how a line of credit earns interest with you putting your pay check on it

    • @ReplaceYourUniversity
      @ReplaceYourUniversity  Місяць тому +1

      It reduces interest costs. Dollars saved are as powerful as dollars earned. It's not what you make, it's what you get to keep.

  • @eaglesquest7532
    @eaglesquest7532 3 місяці тому

    Thanks but how do we begin this journey?

  • @ambynambyn5710
    @ambynambyn5710 Місяць тому +1

    Hi Michael, I watched you today with Noelle Randall the 1st time today, and I was sold and subscribed to your channel. But, I am really interested to have one on one support from you to help me out. I have some of the qualifications for the services you mentioned in your show with Noelle. I believe this is a Divine Connections I have been praying for without knowing how and who God will bring my way.I thank God for UA-cam watching Noelle's channel, and then your show with her came up after the last post about what the banks doesn't want you to know. ❤

    • @ambynambyn5710
      @ambynambyn5710 Місяць тому

      I will be transparent to open up to you to help me on the steps to take. Thanks Michael.

    • @ReplaceYourUniversity
      @ReplaceYourUniversity  Місяць тому

      Go here and book a call:replaceyouruniversity.com/replace-your-mortgage/

  • @hillbillyscotsman
    @hillbillyscotsman 3 місяці тому

    Great video. Me and my wife are trying to gather all the information we need before applying for our Heloc and have our money work for us! LORD WILLING!

  • @An7orcha
    @An7orcha 4 місяці тому

    Great video!!

  • @Latinacb
    @Latinacb 2 місяці тому

    If you put your whole paycheck into a HELOC to pay all your bills. Are you now paying an extra interest on all your, especially utilities that you don’t normally pay any interest on

    • @ReplaceYourUniversity
      @ReplaceYourUniversity  2 місяці тому +2

      No, the HELOC is just a more efficient place to store cash while it suppresses the balance, thus suppressing the daily interest charges. Take out what you need to pay bills and allow your savings to further decrease the interest pay back.

    • @Njhomes-sv8em
      @Njhomes-sv8em Місяць тому

      @@Latinacb if you paycheck in total of 10k per month that will reduce your monthly that outstanding HELOC balance of same amount , then with debit card / card link to it starting spending for your monthly needs and deposit any additional savings to lower the balance, your HELOC will be paid no way shorter time than 30 yrs fix .

  • @jacquelinepenha3135
    @jacquelinepenha3135 22 дні тому

    I watched you today at the Noelle show and was very impressed. I need help. How much for a one on one with you? I am a single 64 years old and need a financial advisor. I am fired myself and want to hire you ASAP. Please provide your email.