Home equity loans

[andrew1996128]

U ARE AWESOME



[REXAgreeement]

I think this is great.

[BareTheCareBear]

Heey 25% off 1.5 million isn't 325k but 375k. An easier way to calculate the 25% is to halve it twice instead of taking 75% off.

Example : 1.5M /2 > 750k /2 > 375k

Having basic ways how to calculate really helps, if you mess one number up the whole balance is wrong.

[adamaqmal]

nice share

[CHOCHADE]

your home is not an asset if it is taking money out of your pocket.... its an asset to the bank but not you.....so the whole 1.5m should not be in the asset column but the appreciation so equity gained works in your favour to be an asset

[grupotusolucion]

thanks for the video

[calcularhipoteca]

very interesting

[FortNikitaBullion]

Home Equity Loan (HEL) = HELL.

[RunFreeAtRecordSpeed]

duh...

[ratun143]

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[zickpro]

i like this video, thanks!

[firebirdude2]

It's hard for people to not spend money when they have a lot of it. So loans like these made people feel rich, when in fact, they were on a high produced by rising real estate. When real estate plummeted, the home owner was left holding a huge loan (in addition to their initial mortgage) after living like a king for a couple years. Did it happen to everyone? No, but even 50% is a disgusting huge amount. Foreclosures reached an all time high.

[TheTruthHurtsYup]

at the end after he said people were taking out equity loans all the while not having a job, but spending money like crazy, he should said 'and that drove the economy DOWN'

[DavidCFeathers]

A brief introduction to the terms HEL and HELOC can be found at whatishel. com (What is a Home Equity Loan).

[gomzalez]

came on...

you have $750k equity and asset and you spend 100k on vacation and you are left with $650k. is this a lesson?

[theporksicle]

So...how did all of this crazy creation of nonexistant wealth not cause rampant inflation?

[andymission]

The Creator

Loves me and Loves You.

[blackstrad2]

Soo can you pay for your liabilities through your equity? I'm assuming there is a way to do that or else you wouldn't just keep cashing out your equity and piling up more liabilities

[allznew]

Bad credit loans

[allznew]

good

[ifginc]

Integrated Financial Group provides you with flexible and hassle free mortgage plans that saves you from all home buying financial worries..

[FortNikitaBullion]

6:40, I disagree that happiness doesn't show up on balance sheet. If you think about it, every asset you have is contingent on your health and happiness. It's the reserve asset in most people's balance sheets.

[rbolo29]

I gotta get off this 'debt train.' CHOO! CHOO!

[Cloudforever99]

lol I'm with you brotha!!! Cant wait to get off that train!!

[250000BusinessLoan]

yeah real good info

[binbinpan1]

amazing vedio~~!

i love it~~~~! thank you so much!!

[easyupload]

Hello, what happens if an identical house is sold for 500k. Could the bank ask for money back (75% of 500k) immediately?

[MrTelmaster]

what kind of mic are you usings it sounds really good?

[xBakaPeterx]

Question:

bank says you can borrow up to 75% of home's worth=$1.25m

but in this case, you can only borrow $375k because of mortgage?

If you did not have mortgage, would you have $1.125m is cash and liability?

[goldy1011]

what is the title of the previous part and the title after this part....kindly answer...

[goldy1011]

wheres the first part of this....the website please...

[FilmBorne]

Very sad.... this is country has turn into socialism. you can get bank loan those who scored A+ and B- in school. They check your school records.

[Alucardthedeadone]

ya but schooling should have no base on if you get a lone or not.

[FilmBorne]

That's mess up you know. It causes recession and massive corporate bankruptcies. This country... We got idiot bankers, and greedy executive screwing everything up. Now, they can't fix it the way it was.

We will be heading dark ages in few years.

[Alucardthedeadone]

No it is not, the vale of the house is always fake, the bank might say 1.5mil, but if you can only get a bit or price of 1.3mil then it is vale is 1.3 mil. If you get 1.7mil then it's vale is 1.7 mil.

[DCNov]

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[Peexter]

If you have not been able to get an auto loan I suggest you check out MoneyLoansCredit (.) com. It's a site where people help others get money and loans.

[davidmichael3d]

These videos are absolutely brilliant. Well done for noticing the recession in early 2008! Many economists only became sure of that in 2009.

[dontblamethemessenge]

In the Netherlands they also have the option to get the "overvalue" of the house from the bank. So people could use that amount of money, not for holidays but only for improving the house.

I have a house but i did not really understand the concept until this video, thanks for that.

Luckily i did not use that "overvalue" because this overvalue will go down as the prices decrease of houses. So this overvalue is a kind of buffer for decreasing house prices.

[thetempun]

Should I Be Watching This I'm fifteen ? But I NEED To Learn This.

[quitejaded]

Its never too early to learn about managing your money.

I just don't really understand why you owe the bank 325k when its coming out of your house.

[iteslabot]

That's because you don't ACTUALLY have that 1.5 mil yet, you have it when you sell the house

Equity is the gap between the cost of your house when you bought it and the positive (more worth) value at a certain time, or when it gains value

Therefore if you sell the house, you'd make enough money to pay off the bank and make some cash; but until then your house is STILL the banks; that's why you take out a loan, your house isn't yours until you pay it off including the equity;

[Alucardthedeadone]

(That's because you don't ACTUALLY have that 1.5 mil yet, you have it when you sell the house) No you won't because u can not know its price untill someone pays you a price.

[nathanbanks]

You originally bought a house for a million and a half dolalrs, and a year later, the value of the house went up to 1.5 million???? Im confused.

Also 75% of 1.5 million is $1,125,000 not $1,075,000

[joesteinbock]

Hey strawman....read and pay attention....

He said he originally bought it for 1 million AND he said the 1.075 is an approximation.

[slapcigar]

Hey Joesteinbock....read again and stop being smart. He did start out by saying "i originally bought a house for one and a half mil. "

[gardiloo1]

I love these videos, very educational and true...but perhaps give some home owners a better wrap than people who will go on a 100K vacation...perhaps they spent it on education! The result is the same

[khanacademy]

You're right. Although I wanted to show how home equity withdrawal made people feel rich and consume more. Education, for the most part, is an investment and, assuming the student is responsible, will generate a return.

[machvis]

Just a question Sal> If I bought a car than we should write the car in assets, in this case 100K and cash will decrease by 100K, So equity should stay the same. Am I wrong?

[ThatIsNotDeadWhich]

Yes and no. Assuming that the car is actually worth 100K, you're right. But if you live in a reasonably densely populated city with a half-decent public transit system, chances are that the car isn't worth the book value.

In much of Scandinavia, for example, commuting by car is actually more expensive than commuting by train *just in terms of running costs* - which argubly makes the car an asset with a *negative* value in purely economic terms.

[TheBlackSeo]

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