What we will discuss next is known as Truth in Lending.
BECOME 100% DEBT FREE IN 2019 (including your home!)
The property and it is known as 100% debt free for life training.
Guess one of the scariest documents you’ll ever have to sign, and unfortunately you’ll have to sign it every time you get a mortgage. Let’s go together, because it is first of all amazing that the interest rate of 5.2% is amortized over 360 months, which equates to 30 years in which I would like to challenge you interest rates Interest rates are important banks in your parents and who has your parents taught the banks and their parents? Let me remind you that we agreed earlier that banks are in business to make money so they do not set the rules for us and I want to put it in perspective for 12%, that is everything that is upset right now.
If I offer you a loan at the same level of 4%, it will be a little more attractive if I tell you the second half of the equation, which is equally unimportant, the element of the time I want to bet it is You do not really care if you think about the interest rates you really care about how much total interest you will end up on it ‘It is not the interest rate but the interest volume over the 360 months in which Dan and Megan have an interest volume of US $ 283,000 Dollars, which means that $ 1,000 will be spent in 30 years If I pay your attention, the easiest way for most of our coaching students is to stick to it.
We are not here to persuade you to adopt a system that is not compatible with your plan. I know that we can both agree that you really want to achieve results and that your lender and bank have pledged you to close could be a good starting point to keep your money. But keeping it in the long run is wrong. The cool thing about the formula we teach you today is that banks benefit from it when you use them. Therefore, I will teach you how to use the tools you provide, that we have a summary page on Dan and the negative cash flow cruncher in a mutually beneficial manner.
You can see here that 3.2 years after we got to know them, they bought their house, they had that $ 290,000 credit on their new Borgosz closer to 320,000 2% interest rate, as you saw in the truth in the payroll and the If their sum brought in $ 283,271 in interest, their net household income was about five thousand nine hundred, which is the average that Dan was self-employed and Megan was World War II, so we really need to rely on an average of $ 1,600 to conservatively And to make this example of a $ 2325 US dollar living allowance are all the items you need to pay even if you are debt free.
The monthly total cost was $ 3,925 per month. The monthly net income averaged $ 2,025, or even 20% of the interest they would otherwise have pocketed, and we are doing this to properly use those debt weapons to keep them in line with this plan, so we’re going to get that debt weapon Borrowing $ 25,000 for this gun I’m going to hunt about $ 20,000 from this jet weapon.
We have a specific formula that we use to determine how much we want to borrow from the 25 available aloes Reserves 58,500 instead of the original $ 78,500, which is approximately $ 270,000, which equates to $ 90. Now we have this $ 20,000 debt weapon available as checking account Discuss with you for a moment if your money is unemployed and watch TV on the couch all day long if you have a financial day all day Having an independent woman who goes home and deposits your money on the bank for an average of 20 to 28 days During this time, the bank uses your money every month and you know that you pay little or nothing.
In addition, compound interest will ultimately affect all your debts. At the end of the month, the bank will harvest all the reward certificates, and this process will be washed out and repeated 20 to 28 days a month, your notes in a checking account or savings account. 22 equals 3/4 of an inch equal to 3/4 wasted We’ll show you how you can use every dollar for 100% of your remaining life to show you the impact that now replaces the inadequacy of your check and savings account and I’ll get back later when we cover it up, but what about this average monthly income worth $ 5,950? Account every month, then they pay their bills and their cash flow is left over instead of paying them, or $ 2,950 into their checking account, which is now deposited into that debt weapon, works in the same way as the checking account so they deposit, that 5950 of the 2400 were repaid against this $ 20,000 balance. One in love now has to pay his own.
Yes, he pays the cost of $ 2,325. You’ll find, however, that he does not pay a mortgage in the first month because he’s already paid $ 20,000 for a mortgage payment. Another two things that forgot about that debt, what to write about, we forget when they borrow $ 20,000. You have an assumption, what if you pay checks for an average of $ 5,950 a month, and from that account that counts or does not count that as a monthly payment. You’re right, it counts as a monthly payment, so you will not have another payment in addition.
All you have to do is take care of his interest, the innermost thing they add to the cost of living at $ 2,325. If we can repay this quickly, there will not be much interest, compared to the 5.2% lower interest rate in the US market Show that you will approve it from month 2, when they collectively receive $ 5,950 as a household, where they would normally use the money for the banks, because they have their liquidity comfortable, from the FDIC we do not know that they better All the good reasons are reassured, but what if I could provide you with liquidity security and a better way to raise money, then you would replace the bank with what you are doing now.
They will pay checks and lower the estimated balance to approximately $ 10,425, which is equivalent to the average daily balance of this account means they pay at the end of the month, so you can see that they have to pay the mortgage now because they do not specify any further lump sum to have. This lump sum counts only as a payer t and then the $ 2325 must be paid for the living, which means that every month until that balance is repaid, it will be repaid by the end of the $ 2350 cycle then they will pay the expenses.
The total spend of 3009 and the cash flow 2025 will remain as if they were their checking accounts or savings accounts, so we can take that $ 14,350 and share them through the cash flow. How many months does it take to repay this when it comes to 0% would be, so that total is 7.1. Take 14,000 350/2025. Total will be 7.1 months How many years are 8.9 months interest rate estimate for this exam? Which is way too high if you actually calculate the mass conservative estimate, but I would like the total number of months here to be on the order of 10 months per cycle. Where is every time you raise a lump sum of $ 20,000 for these debt weapons?
The mortgage will be repaid within 10 months. It’s hard to really understand the power of what I’m about to show you, but let me demonstrate this a little more clearly. One of the most insidious devices ever developed by humanity, it’s called the eradication plan. You will see the interest and in gray the principal amount of a 30-year loan. This is the zero-year nature of your loan and the end of your loan 29 where you can see that most of the interest paid at the beginning is actually a simple interest loan.
Many people have a little bit of confusion about that oh so much born beginning has reapplied a lump sum of $ 20,000 from a debt weapon. There was not even money that put them into the repayment plan, which meant they were in the month in which they paid their first monthly mortgage payment, paid the same amount of capital for that time, possibly paying four of them, and a year and a half, how long it takes to repay that $ 20,000 lump sum 10 months later.
It was not until the 11th month that they did exactly the same and spent another $ 20,000 on the already repaid debt weapon. You now have a new lump sum of $ 20,000. Emagazine.credit-suisse.com/app/art…1007 & lang = DE The remainder of the debt a paycheck deposits and pays the mortgage in full and you can see that an equivalent for about 8 years pays for this mortgage disassemble amortization plan into small pieces and observe that the original interest amount for the loan over a period of 30 years is only 70 years, which means that we have them in this plan With a forwarding of 257 payments totaling $ 210,760, I can show you the results in a mathematical mortgage calculator table that I will provide you with.
That way, all the data you enter on each of these tabs is summarized on the assets and liabilities side of your living expenses, paid business costs, action steps, and the loan calculator, so they had a starting balance of $ 290,000 and their interest rate was 5.2%. I should see if I plug this over a 30-year attempt to calculate total interest the same as we had $ 83,271, now it’s a school, then you can see that this page is split into two numbers of payments In the bottom Half we look again at the first payment.
What happened in the first month was a lump sum of $ 20,000. I know that it may be a bit difficult to see what you should do is look closely at the number of payments you save the amount of your total savings $ 64,398 in interest on this mortgage. Well, what kind of interest rate of 20% has been repaid, but how quickly do you show me that you have done exactly the same thing again in the eleventh month and although this is a 12% interest rate that really does not make any difference as the interest rates, which are saved the first time, so significant is that there is another lump sum of $ 20,000 for the dead weapon and now $ 11,280, as you can see here, as I mentioned almost eight years ago, if you use a tool that the banks have provided them, ask yourself why you were not at school, and the same exact techniques apply to the consumer debt for which your mortgage must be valued mortga Already for 5 years the action does not matter, but it would not be great if you could eliminate 95 payments in this way – a wise decision to have your property clear and clear when it comes to the difference between the Rü There is a difference in disposable income when you get a mortgage sample, when you pay off your mortgage, you have 50 1140 and the total mortgage rates that are paid out during the year of 11,500, which means that disposable income George wants more disposable income So it makes no sense to maintain a mortgage.
There are a few other benefits if you are mortgage free. Yes, your money repays a mortgage and may invest a higher return than what your mortgage is for you. In this way, it is a guaranteed return that is medical trouble or unforeseen circumstances that my car has never won before would break