Heloc Explained: Should you use your home equity or line of credit to get out of Debt

Опубликовано: 12 Декабрь 2024
на канале: Lizy Hoeffer

2,518

If you are looking for an effective way to reduce debt and consolidate payments you may want to research a home equity line of credit or a cashout refinance. I know it sounds crazy to tap into the savings in your home or refinance out of a 4% rate but sometimes it can make a lot of financial sense.

In this video, I break down the fundamentals of budgeting and then the pros and cons of a home equity line of credit and a cashout refinance. You would be surprised what you can save in cash flow and what you are currently paying with your combined blended interest rates.

𝗜𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗶𝗻 𝘀𝗲𝗲𝗶𝗻𝗴 𝘄𝗵𝗮𝘁 𝘆𝗼𝘂 𝘄𝗼𝘂𝗹𝗱 𝘀𝗮𝘃𝗲 𝗶𝗻 𝗮 𝗰𝗮𝘀𝗵 𝗼𝘂𝘁 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗲 𝗽𝗹𝗲𝗮𝘀𝗲 𝘃𝗶𝘀𝗶𝘁:
https://app.crosscountrymortgage.com/...

𝗜𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗶𝗻 𝗮 𝗹𝗶𝗻𝗲 𝗼𝗳 𝗰𝗿𝗲𝗱𝗶𝘁:
https://ccmequityexpress.com/account/...

𝗜𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗶𝗻 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲 𝘃𝗶𝘀𝗶𝘁:
https://app.crosscountrymortgage.com/...

𝗧𝗶𝗺𝗲𝗰𝗼𝗱𝗲𝘀:
0:00 - Intro
0:43 - The state of Debt in America
2:05 - Tactical Budget Tips
4:50 - How to Reduce Debt
7:04 - Breaking Down what a HELOC aka home Equity line of credit
9:07 - What Is A Cash Out Refinance?
11:03 - Contact Information

𝗥𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗲𝗱:
The difference between APR and Interest Rate:    • The difference between APR and Intere...
How Mortgage APR Works:    • Video
How Much House Can I Afford?:    • Video

👇👇👇
Download my FREE budget guide! http://lizyhoeffer.com/free-budget-gu
Subscribe to my Newsletter! https://lizyhoeffer.com/newsletter-th...
Get a FREE mortgage quote here: https://lizyhoeffer.com/mortgage-quot...

Instagram:   / lizyhoeffer
Facebook:   / thelizyhoefferteam

#Budgeting101 #FinancialTips #DebtConsolidation #SmartBudgeting #MoneyManagement #HomeEquityLoan #DebtFreeJourney #PersonalFinance #SavingsGoals #FinancialFreedom #MoneyMatters #DebtManagement #BudgetingHacks #FinancialEducation #ConsolidateDebt #WealthBuilding #SmartMoneyMoves #BudgetingTips #HomeEquity #DebtFreeLiving #FinancialPlanning #MoneyMindset #YouTubeFinance #InvestInYourself #MoneyTalks #MoneySmarts #EmpowerYourFinances # homegoals