Should I Borrow Against My House To Pay Off Debt?

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Title	:	Should I Borrow Against My House To Pay Off Debt?
Lasting	:	4.53
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Views	:	64 rb

But isn’t having low interest better than high interest?
Comment from : M Kolmer

Awesomeness
Comment from : The only one

Why does the Mexican from El Paso have to eat beans and rice? 😂 Dave’s a savage!
Comment from : Johnathan Ellis

Whenever they say "do you think it's a good idea" what comes next is always interesting
Comment from : Trevor Vook

Dude you WERE already debt freedang
Comment from : hustlerz

We always eat rice 🍚😊
Comment from : Mouwly Lee

115000 minus 12 times 3000, why is this rice and beans?
Comment from : Sandermatt87

Here is the thing If you are paying 18 combined on your CCs and vehicle and owe $80,000, if you pay that in five years, your payment is $2,000mth and total payoff amount will be appx $120,000 If you can knock that 18 down to 6, your monthly payment is $1500 and payoff total will be $92,000 That is a savings of $28,000 Tell me again why you shouldn't do that?
Comment from : jamie t

Just get rid of the wife, they cost to much A truck will never let you down
Comment from : Daniel Garcia

What kind of truck is it??brbrU should of pay off debt first before buying a truck
Comment from : Daniel Garcia

Depending on how many rooms they have and how they value privacy they can rent out one of the rooms for additional income Maybe for 6 months to 12 months lease
Comment from : Dub-B-Tre

You're going to put your house at risk to pay off other debts like credit cards and a truck? No Justno
Comment from : Granite Moss

Paying off 36k a year on a 115k income with no house payment isn't what I'd consider having no life
Comment from : Bart Van Riel

El Paso!!!!
Comment from : blksmith351

Why are there so many adults that know debt is bad but refuse to be smart and stay away from it? Everyone has gone to school at some point but act like they never have been to school
Comment from : iceman

Dave amazes me by this "We"enforcement thing on married peoplehmm 92 married folks out here don't do weThey are too entitled flakies
Comment from : zunai andre

If you have no mortgage payments, use that money to pay off your debt Why would you need to borrow on your house? Sell the truck if you have to I wish that people would realize that cars are a liability, NOT an asset They continually drain your bank account ( gas, insurance, maintenance, etc) all while depreciating in value Avoid car payments as much as possible people and buy an older vehicle cash
Comment from : Prudence K

He sounds like he doesn't want to sell his truck Crazy!
Comment from : talented VIXX

Sell the truck i really doubt upside downtrucks hold value wellsell online yourself Cc debt is stupid debtthats monthly spending you arent controllingbrbrHad a cc for 20 years and have no cc debt and save 50 monthly income Some just cant stay debt free on themweird But agree he needs to ditch them Problem is he mostly likely will still spend alot once debt free
Comment from : Mark G

Get a cheaper truck don’t borrow on a payed up house broh yes cut up those credit cards and why have they got big credit cards with that yearly income?
Comment from : Ian Mowbray

I don't think this question is as dumb as some of the comments would have you believe I agree with what Dave said here but it's perfectly logical to borrow against the house to pay off the other debt as long as you can write off the interest In essence you are just shifting debt around with a tax benefit This also assumes you are good at being disciplined and paying off your debt consistently
Comment from : Richard Forester

I would like to see the use pick up market go back to reasonable I had to get a good used minivan it 1/4 the cost for same year and millage
Comment from : Sunny Days

Been addicted to listening to Dave for two months now this man is great
Comment from : Rafael V

Why are trucks so expensive?
Comment from : cdc88

Pickup trucks - a prime cause of poverty for the American male
Comment from : JDave Foster

Credit cards are termites, I agree I’d love to cut up all my credit cards too
Comment from : Chris Kim

You the best Dave
Comment from : SugarZeus

Investing Hustler should fill in for Dave when he's out of town on business
Comment from : James

Borrowing against your house doesn’t sound like paying off debt That’s like just transferring debt balances from other things to your housebrbrNever a good idea to borrow money I love how quickly Dave said no
Comment from : KT Speedruns

Investing Hustler borrowed against his debt to pay off his house
Comment from : MMA

My great aunt pawned her house to pay debt She ran the debt back up Now shes 75 years old frying chicken at 4 am trying to pay her house note and debt Dont do it !
Comment from : pat the trucker

Really useful video We are in same position House paid off but small car payment We are going all out should be paid off and 100pc debt free april or may next year Never NEVER again!
Comment from : whitehorse

Gotta sell the car and eat beans and rice and rice and beans Stoopid!
Comment from : Vinny T

I’m a big baller, my Maserati’s payment is $1,500 a month, and my house payment is $2,900 per month; I make $8,500 I also have $250,000 of dental school debt I’m such a BALLER!
Comment from : Supercar Insider

I am so happy that they paid off their house Excellent !brNow it is their choice to choke on the debt for 1 year and be free or drag it out 2 yearsbrPersonally, i would do 1
Comment from : Sun Set

With that kind of income I'd say just stop with the credit spending and pay off the debt that is there Selling the truck will probably just lead to another vehicle purchase that will put him in the same situation
Comment from : Drogo Baggins

Awesome Dave, my wife and I are out of debt because of you! We started a channel focused on relationships and just released a video about following your dreams Thanks for all you do! WE’RE DEBT FREE!!!
Comment from : Daily We Do