4.8 • 955 Ratings
🗓️ 2 April 2025
⏱️ 10 minutes
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0:00.0 | This is Terio Media. |
0:04.0 | Hey, strap in! |
0:07.0 | It's time for the epic real estate investing show. |
0:10.0 | We'll be your guides as we navigate the housing market, the landscape of creative financing strategies, and everything you need to swap that office chair for a beach chair. |
0:19.0 | If you're looking for some one-on-one help, meet us at |
0:21.7 | rei-aise.com. Let's go, let's go, let's go, let's go, let's go, let's go, let's go. Let's go. |
0:28.1 | Let's go show you something that's going to change how you look at your mortgage forever. |
0:31.4 | Think of it as an onion. With each payment, you think you're peeling away the layers of your mortgage, closer and closer to owning |
0:38.3 | your home. But here's the truth. Banks set up a system where you barely ever touch the core. |
0:43.8 | It's the perfect crime because you'll actually thank them while they steal your equity. It's called |
0:48.8 | the onion method. And it's the banking industry's most brilliant con. And just like cutting an onion, |
0:53.7 | once you see how this really works, it's going to make you cry. So it most brilliant con. And just like cutting an onion, once you see how this |
0:54.8 | really works, it's going to make you cry. So it's like this. In a normal 30-year mortgage during |
1:00.0 | the first six years, 75% of your payments are just peeling away the layers of interest. You |
1:06.3 | feel like you're making progress, but you're not. The con? You'll actually feel smart about your money |
1:11.6 | the whole time. You'll think you're winning. You'll even brag to your friends about it. Here, let's look at a |
1:16.3 | $420,000 home. After putting 20% down and borrowing $336,000, the rest, your monthly payment at |
1:23.2 | 6% interest is going to be about $2,600, including taxes insurance. |
1:28.0 | Then after six years of paying on time, you've given the bank nearly $188,000. |
1:33.2 | But guess what? |
1:33.9 | Only about $40,000 of that actually went to your loan balance. |
1:37.5 | The rest, almost $150,000, it's just thin layers of this onion, pure profit for the banks. |
... |
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