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I'm confused at the interest and principal part why does it go down when the other goes up? I see the interest rate is not the percentage of the overall amount. It's the percentage of the money you still owe. School never teaches why things are calculated like that and it's our fault we don't wonder why it's wrong .we just correct it.

HOA’s are communist paradises. Communists love them!

I'm really sorry to say this and Americans are cool but everytime I see something like this I'm happy I live in Europe. HOAs sound horrifying

Hi! Thank You for this informative and detailed Mortgage info! The biggest "take-away" news I got from this was, an Interest-Only Mortgage will 98% 𝙘𝙤𝙣𝙫𝙚𝙧𝙩-𝙧𝙚𝙫𝙚𝙧𝙩 𝙣𝙤𝙧𝙢𝙖𝙡𝙡𝙮 𝙗𝙖𝙘𝙠 into a Principal+Interest Mortgage Loan. As a Newbie (and Family Trust Older Brother) now acting as "Lead Administrator" , I'd walked into this Mortgage Mess blind & inexperienced. Kept thinking our Bank was gonna descend upon me like 𝐆𝐚𝐧𝐠𝐬𝐭𝐞𝐫 𝐀𝐥 𝐂𝐚𝐩𝐨𝐧𝐞 and demand the full amount Loan all-at-once after the 10 year or so standard term you mentioned. I now believe that Interest only term thingy came & went for us, approx 3 or 4 years back already. Your Video helped me see our Mortgage Payment printouts with much "clearer eyes". Helps explain why I'm seeing the word "Principal" on the loan bill (along with interest), and the mortgage amount (we used to owe) actually "𝙨𝙝𝙧𝙞𝙣𝙠𝙞𝙣𝙜 𝙙𝙤𝙬𝙣".

sorry but as an arrogant European US HOAs are some the funniest **** you guys have ever pulled A nation that says it's all about freedom and individual rights and liberties, meanwhile Karen three doors down can tell you what colour your thrash-bin has to be. How in the ever loving name of **** did y'all arrive at this point lmao

So you dont need to get an hoa for a property in pensylvania

I have never heard of HOA in my life till these last few months, due to how many bullshit ppl went through as they post on social media, from Australia btw

Hoa suck why would you pay for them just to tell you what i cant do with your property its like a prison

In other words you're in prison you're a slave you cannot do what you want to do even though you're paying for the property even though you're paying property taxes and on top of that they tax you so they can tell you what to do good Lord what is this world coming to who needs an HOA just another person that tells you what to do with your own things wow

How the fuck can this exist, sure no one actually wants it.

Scam at it fines, buying a home just to be told what to do with it, they even have the key to the house like what the f*ck, and could force their way in and kick you out of your own house you bought with your money? And you also have to pay them? 😂

I smell communism

Imagine paying hard earned cash for some autistic karen to harrass you and your family.

smell of corruption here

What a ugly concept, sounds dystopic

I'd like to see them try these dumb things in the UK

😂😂no

They dont like it, they have too because its hard to find housing

Sounds like crap in my opinion..Abuses can go rampant.

For me as someone not from the US HOA's sound like school bullies who miss the the days where they could beat up weaker kids and blackmail them into paying for their stuff. But hey maybe I'm just a stupid European who can't see how much freedom something like that brings.

Again ❗America ❗😂😂😂😂😭😭😭

would love to see them try and take my home

HOA is a communist organization that tells you what to do and cannot do.

Thank you for great info!

No one likes it, we have less choice.

The link does not work.

Nope.

They will have a rule that homeowners have to go sleep at 9 pm

Makes sense for blocks Absolutely crazy for Hauses

Basically, you dig yourself into a deeper hole than the one you are already in. You can fix your credit by falsifying a police report on your credit card default fax the report to the CC company and they will be forced to remove those negative marks. Just be aware when you do it too much it will come back and bite you just do it with the biggest debt.

Good video, nice analysis. Quick and straight to the point.

You two nailed it!👍

I received something in the mail about this. I don't know if it's right for me. Shouldn't I also consider the current interest rates? I don't think they've been lowered enough, but I don't know. Also, how often can someone take advantage of this program?

It quite literally drops home values by significant amounts so this video without a doubt was made by an HOA member. It is a shark system run by co trol FREAKS

Id rather stay with my parents, jesus christ

I remember I knew this guy. He was always showing off his new house. And I had to speak up. The whole point of a man buying a home is for his family, & NO one could tell him SHIT! And now you're going to a place where they tell you what time to be home, when to mow your lawn and tell you know barbecues in the community?! Not only you have to follow the rules.. that goes for your whole family!! If you're a single guy, it doesn't sound nice to ask these people if maybe a chick could stay a night at your house, or maybe you get locked out for the night because you came home late drunk😂 There's female written alllllll over it! There was some dumbass who got laid by a certain somebody who got to make this decision ! Who's the stupid one who thought of the stupid idea granny and always smiling because he finally got laid

Hoa is such a bs. You must have big problems to want to be part of this shit

What the hel. HOA is the top 1% horrible thing i ever heard of. Tell me what I can and can not do in my home or around it is just total dictatorship in my mind. The rules from the gouvernment are already more than enough

an hoa sound awful

Can one opt out of an HOA?

very informative!

There is nothing in this world that could convince me to buy a home with an HOA.

I'd rather live next door to a messy garden with undies with skid mark stains drying on the balcony than live under the dictatorship of the HOA. I can negotiate around such a situation in my own neighbourly way. eg, High decorative fence that adds value to my property and my neighbour's property.

With todays economy I would leave it. I can plant my own flowers, and do my own lawn. They are bloodsuckers.

HOA sucks

Basically a cult for rich idiots gotcha

I would not buy a house in an HOA district. I don t think it drives up the house prices.

So.... communisim.. American edition.

HOA is the most stupid thing I ever seen

HOA, AKA. Karen's neighborhood!