Go Back And Listen To Yourself On This Call
The Ramsey Show Highlights
Ramsey Network
4.5 • 838 Ratings
🗓️ 19 November 2024
⏱️ 6 minutes
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| 0:00.0 | brought to you by the ramsi network app download today to go further with ramsie so right now |
| 0:10.7 | the main the main problem not a problem but i have a house right now it's worth about 400 |
| 0:18.8 | 400 to about 440. |
| 0:22.8 | I want to say around that range, 400 to 400 to 40,000. |
| 0:27.1 | And I took out a home equity line of credit on the house for $50,000. |
| 0:35.4 | Now, I watched this one video about if you put the $50,000 back in on the house, |
| 0:43.6 | it will drop the, um, it will make it so that you pay more on the principal and less on the |
| 0:51.6 | interest, which is somewhat true. |
| 0:53.6 | I put about $40,000 on back into the house, which the payment, which the mortgage payment |
| 1:00.8 | stayed the same. |
| 1:01.8 | I want to say that instead of the principal, me paying like, it's basically only $100 |
| 1:09.8 | difference that I pay, that I save myself that goes towards |
| 1:15.1 | principal versus the interest for the whole $50,000. |
| 1:19.5 | Now, the $50,000 cost about $250 a month in interest. |
| 1:26.8 | I have to pay about $250 a month in interest. I have to pay about $250 a month on interest on the $50,000, and it only |
| 1:33.7 | saved me $100. $100 more goes towards principal versus the interest. So in all, it's almost like |
| 1:42.7 | I'm losing $150 for like no reason. So I'm kind of |
| 1:47.5 | curious as to what you think about that because I am thinking about kind of like, I don't see |
| 1:54.1 | myself really paying back at $50,000 anytime soon. So I'm thinking about trying to sell the house. |
| 1:59.9 | Bejean, here's how I'll tell you how I think about |
| 2:03.5 | this. Go back and watch this clip and just listen to yourself. You're going to go, what have I done? |
| 2:10.7 | This is madness. I did all these backflips in order to try to pay down the house early when I could |
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