Home Equity Loan

Mortgages – Should you Refinance ??





Home finance loan calculator at :

https:bankrate.com/calculator

source

27 comments

  1. I love bankrate.com

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  2. Lord you just gave good information I cant tell you how many calls I got of people having no clue what they did when they refinance they loan

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  3. I was lucky when I refinanced from a 30 year to a 15 yea, my interest was 4.12% but refi at 3.25%. My payment went up 25.00 per mo but my payoff was sooner saving me $$$ in interest. I pay 50.00 extra per mo so I will pay a 15 year in 11 or 12 years saving even more money thanks for the good info Happy 4th to you & yours

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  4. Granny you did what my Mama did. She would say, "I'll go home and sleep on it." That was a pretty bookmark made from the bible. Have a nice and safe 4th of July! Love you.

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  5. I would also like your opinion on Home Made Soap, Dish washing liquid, Laundry soap. Or maybe the viewers have input.

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  6. we could not quite get a 15 like they say we got a 20 ( we had to see how much we was gonna have each month ) and now we're paying it like a 10.  I did the math on the innerst lol and I want to pay it off in 7…whoo hoo.

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  7. AND PLEASE OLDER LOVELIES…please don't get a reverse mortgage.  Every one I know who fell for that nonsense regrets it and got screw'd.  please please don't get one. thanks.

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  8. Nice book mark 👍🏼 tell her to make me one 😁

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  9. I really appreciate how you simplify things that companies make complicated on purpose to take our money.

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  10. I get those offers every month and they keep wanting me to go to a 30 year mortgage in order to pay 300 a month less but I only have 12 more years on my mortgage obligation. Thank you for doing such an informative and well laid out video. My husband is battling cancer and the doctors don't give him more than 4 to 6 months and sometimes I think of going to a 30 year mortgage just to keep the roof over my head. But then I decided that if I have to sell the house and live in a small apartment then that's what I will do. I know that it's going to be lonely though because no one is going to come and visit and most of the time they don't want you to have any animals and I have a beautiful dog and cat and we like going in the yard. I don't drive. Finally, I said to my mark, you know we're living in the palm of God's hand. And he said yes I know. We're struggling to come up with $2,000 so he can have $23,000 paid by Medicare and have chemotherapy to extend his life a couple years. the pharmacy said if we do not have the cash they will not send out the medication. Sometimes it seems like everything goes wrong at the same time. The air conditioner broke and the poor guy has to be in an 87-degree house. but it's going to cool down in a couple days. I am learning a lot these days about loving God above all and living in that day and appreciating all the little beautiful Miracles that are around us every single day. You are wonderfully gifted at explaining things in a simple way so I can think things through. As you can imagine, thinking about facing life alone without my love and my best friend has my mind very scrambled. So I gave up and I put my eyes on the face of God because that's who I love with all my heart and soul. And I know He will never leave me. God bless you Granny. Love, Carly

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  11. You are a good, good person! ( hug )

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  12. Great video!

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  13. Happy July 4th my lovely Granny.

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  14. Some loans don't allow extra repayments, or paying it off early, without a penalty fee. Banks don't like missing out on their interest.

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  15. You are exactly right! I tell people that, when you refinance, you start back at day one paying interest. You can calculate what it will cost you by using an online amortization spreadsheet. Our bank send us refinance invitations all the time. We're 15 years into our 30 year loan. 😲
    The smartest thing to do is write a separate check each month and annotate that it's to be paid on the Principle. Your loan will be paid off sooner. They can only charge you interest of the balanced owed!
    Have a blessed 4th of July. 💜✝

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  16. Love the bookmark from an old Bible..Amen!🙏🙏🙏

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  17. I do not have a mortgage. I paid off my house seven years ago. However, I needed some work done around the house, and I had some debt to pay off, so I got a home equity loan. The home equity loan was for $15,000, and I have 10 years to pay it off. Right now I’m just paying the interest. It’s kind of a slippery slope because it’s so nice getting the home repairs done, but having to pay it back is a bummer.

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  18. I live in Tennessee! I live about 35 miles north of Chattanooga.

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  19. Hey Granny!! If you pay extra each month please remember to write on your payment slip what the extra amount is for. We were told if you don't specify the extra amount goes to the interest if you don't. The reason it makes a difference: paying on the principal makes for lower interest. That calculator site will clarify. We also have Escrow (an account required to cover costs like taxes, private mortgage insurance etc) account. Extra money we have sent could even get applied to Escrow if not specified. UUGGHH…I have a headache now…I need a glass of ice tea lol

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  20. I mailed a card a few weeks ago, I'm afraid you did not receive it. Thanks for videos, I appreciate them.

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  21. We are saving for a house, but we will be paying cash. No mortgage application needed. We are about 18 months away. I count my blessings we owe nobody nothing for anything financed.

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  22. Great video, adding to your principle every month helps. Yes, on the tips idea.

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  23. Love you granny, you always make my day.😍😍

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  24. Hi and greetings from Canvey Island Essex, England. Love your videos and common sense approach. Here in UK we face the same challenges with everyday living and there is a definite crossover with ordinary folk in USA and in UK. We can all do it better and get real value for money on food and other items if we look around more. We don't really have or use coupons here in the same way as you do but we can also make savings such as special offers, half price sale and buy one get one free. Your advice on mortgages applies here too. With our mortgage we were able to pay off more each month when we could afford it. It certainly works PPG!
    Spent a little time this morning putting 6, yes 6, half empty hair conditioner bottles into one big bottle ready to use for my hair and some to be made into fabric softener.! I used to just purchase yet another one with my shampoo. What a waste. Well I am certainly being more mindful now and being a little more frugal and repurposing items where I can. And enjoying the challenge I should add!

    Keep your sensible ideas coming as all is very much appreciated by me.
    God bless you and God keep you and your family safe xx

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  25. Great advice for everybody.. Hope you have a blessed day..

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  26. I encourage my young friends who are buying their first home to consider a 15-year mortgage as it saves so much in interest. After I’d been in my house a couple of years I refinanced a 30 year mortgage to a 15 year mortgage (rates had gone down and my credit was better because I had 2 years of house payments under my belt) and saved a tremendous amount of $$. Also, when you’re young you don’t realize how fast 15 years are going to go by….thanks for your video!

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  27. Great advise..Lenders are in for benefiting themselves to making more money. May I ask how much is your monthly mortgage? You must be a early bird to have been to Walmart and back already. Good way to beat the Walmart  crowds of the day. Thank you for the video. Have a Blessed Day.

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