An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States
Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.
Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.
Sponsored by the United States Department of Homeland Security.
It's a crazy time that we're living in. Everybody knows obviously we in. You know the age of Corona, and I remember texting you like when when Corona first hit. I'm like, yo, that's when the stock market was crashing. And I'm like, there's real estate market about the crash,
and he was like, nah, it's not. And I'm like, how people were losing their jobs, stock markets crashing, people can't go to work, like all the writings on the wall for another two thousand and eight to happen, and he was like, nah, commercial real estate might be in trouble, but residential real estate, I'm like, all right, we'll see. And then to this day, it hasn't crashed. It's actually going up. In most most places in America. The price the home prices have actually going up. It's a shortage
of our inventory on the marketplace. So where we're at right now as far as the state of real estate in the United States of America.
The market is on fire for residential you know. And I told you this back in March. I said, nah, bro, it's not going to happen because with people and everybody was kind of saying the same thing, like, yo, two thousand and eight is coming back. Wait, don't buy, don't buy weight, And I said two thousand and eight was different. That was a credit crisis, right, This is a health crisis. Credit crisis means that banks, Wall streeters, everybody, homeowners, you know, investors,
everybody was greedy, you know, appraisers, everybody. Right, So when the market crashed, the government was reluctant on trying to save everybody. They didn't want to bail out everybody, but they had no choice but to bail out the big names. Right. So with this one, I said, now, this is health This has nothing to do with nobody. This is nobody's fault. And if you think about it, if you look at the real estate market going into twenty twenty, it was
already on fire. It was due for a correction at some point, because what goes up must have come down, right. But I said, nah, this is not going to crash. There's no way, because the government is going to have to bail out everybody now, right from the big businesses to the everyday person. When you told me that it's going to crash, that's what was in my mind because I knew, especially with the election year, they couldn't just let all these people die, people lose their homes. There's
no way. And as you see, all these stimulus packages came out, everybody getting their ppe money and everything.
It was recklessly hopefully they wasn't reckless.
Hopefully they wasn't reckless, and hopefully they did the right thing. But you know, you have unemployment benefits, people are getting them with ease, with no problem. So you know, you got to give the administration credit for what they tried to do to help as many people as possible. And that's why I just did to feel like the market was going to crash. But residential real estate is on
fire right now all over the country. There's thirty forty offers on one house, you know, So if you're a seller right now, if you're thinking about selling your home to upgrade or downsize, this is the time for the sellers right now, because they're going to get twenty thirty percent above asking price on markets right now because it's
just too hot right now. It's too many buyers out there, and with these low interest rates, you know, or rates being in the mid twos to low threes, depending on your circumstance, Like everybody wants to buy a house because money is cheap now right so it's easy to the person who couldn't afford the half a million dollar house last year when rates were three and a half four percent. Now it's two and a half.
Can can you explain like that, like, because the average person that maybe never brought a home might not fully appreciate because they say three and a half two and a half, it's only one percent, that's not that big of a deal. But because they look at it like it's stocks, Like it's like if you earn one percent, you know what I'm saying, or just regular life, one
percent doesn't move the needle. But in your world of mortgages, one percent is huge, right, So if you kind of put that in perspective out, yeah.
I mean, look, one percent depending on your loan amount, right, that can be three four five hundred dollars a month. That could be six thousand, eight thousand, ten thousand a year, depending on the size of your loan.
Right.
So the big of the loan, the lower the rate, the cheap of the payment.
Right.
So someone again who couldn't afford the five hundred thousand dollars home or get pre approved for a five hundred thousand dollar home a year ago because the rate was probably three and a half to four percent, now they're able to because now that brings their payment down and they're able to get approved for now that higher amount,
so one percent is huge in the real estate. In the mortgage world, interest that you're going to pay over the life of the moment is also very important too, because if you're looking at any house that you buy, let's face it, right the way the mortgage in the banking system is set up, it's you know you're going to pay interest three times more earners.
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An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States
Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you were here illegally, your next you will be fine nearly one thousand dollars a day, imprisoned and deported, you will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.
Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.
Sponsored by the United States Department of Homeland Security.
Put him with the houses actually work. But if you're getting a cheaper interest rate, that softens the blow a little bit, and now you can focus on your debt strategy, which is repaying back your debt and trying to beat that interest trap. You know what I'm saying, and you know little things you can do to do that. You can make one extra payment a year, and you can pay off your loan in twenty two and a half years.
If you have a thirty year mortgage. You know what I tell folks all the time, take your income taxes refunds right and apply that every single year to your partical balance. That could bring down your debt. You can do as little as one hundred dollars a month to your principal balance and you'll be surprised how much interest you'll save on your mortgage, especially if you plan on living in the house the long term, the full term
of thirty years. You don't want to just make your regular payment because you're gonna pay you know, on a three hundred, four hundred thousand dollars home, you may pay back eight hundred thousand.
Now that was a gym, what you just said. And I learned that in business. I don't want that to go on people's head. When I first got into into the industry working in finance, I learned that like one extra payment a year on your mortgage cut seven years.
Off of your mortgage absolutely, or eight seven to eighty twenty two and a half years.
Yeah, So that's that's huge if you really think about it, it's like one extra payment a year absolutely can really take almost a decade off like.
Basically, and it has to be towards your principal balance only. So if you're making a payment, you can't give the bank money because they're automatically going to apply it to interest, right, because you have to direct them where you want that money to go.
How does that even look?
So if my mortgage is three thousand, I gotta pay six thousand if I'm doing it.
Yeah, so if your mortgage is three, you can pay six and you can tell them the difference to go to principal balance only. Some online everything's online right now with all the banks, right so you can go pay your mortgage and you can specify their two principal balance only. You can write a check, put on a check two principal balance only. So, depending on how you pay your mortgage,
do that. And if it's not an online option to pay extra, call the service and lender that you're paying your mortgage too, and figure out a way to accomplish that goal. Maybe they can just do automatic draft from your account something like that and set it up to where you can make that extra payment. You know, and you'll be surprised if you make two payments extra year.
That's what in my mind, I'm thinking that if I make two extra payments now that's seven ers of the fourteen I'm really out of fifteen year mortgage basically.
And I'm glad you brought up fifteen year mortgages, right, especially right now, folks want to go into fifteen year loans. And look, the fifteen year rate, the lowest I've seen it since we've been in COVID was around two percent, which is phenomenal. Right, that's incredible. But what I try to tell people is maybe not going to that fifteen
year right now, because life happens. Right, you're committing yourself to a much higher payment, and what if you know, COVID twenty one comes God forbid and it's worse, worse strained than this. Now you're committing yourself to that higher payment just to try to pay it all early, when you could have went to a thirty year, had a cheaper payment, and just manage your principal balance yourself. That way, you're not committed to that fifteen year term or that
twenty year term. You stay with the cheapest possible payment, but still you're paying down your debt, you know, so, and I'm not against twenty year mortgages. I think for the right people it works, right people who have substantial
income and they can really afford the payment. But most people are trying to pay off their long fast, which I get, but they're now cash strap, right, they're becoming house rich and cash poor because they're making their payment so much higher because they're just focusing on I just want to get rid of it, which again I understand, but you got to be a little bit smarter right now because anything could happen. As we've seen. We woke up in twenty twenty Kobe dead with God bless you know.
Then COVID came. Like this year has been crazy, you know what I'm saying. So like if this doesn't teach anybody anything, you got to have cash flow right now. You got to have liquidity because anything can happen. So that's why I just try to tell home own, future homeowners and current homeowners who are rEFInd intent if you don't have to go to the fifteen year, just stay with the twenty or thirty years, so that way you can have a little bit more cash flow.
My graduates from my school being forced bad drop drop might drop drop drop, an.
Illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United States Secretary of
Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally. Do what's right.
Leave now. Under President Trump, America's laws, border and families will be protected.
Sponsored by the United States Department of Homeland Security,