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Video instructions and help with filling out and completing Where Form 4797 Amortization

Instructions and Help about Where Form 4797 Amortization

Kris krohn and we're back today with limitless wealth TV doing some advanced vocabulary some of you've been asking questions about amortization and depression I mean depreciation that can be a little depressing one of those two terms you're gonna have to figure out which ones we're gonna all break it down for you and help you understand what amateurs ation and depreciation really mean Music all right so for today's advanced real estate vocab we're talking about amateur ization versus depreciation now this is a really hot search for term and sometimes people confuse these two terms so what I wanted to do today is just break it down for you and get in the new grid ease of really what it is first of all let's just tackle what an amortization schedule is so if you buy a house with a 30-year mortgage you need to understand something it's not like you're paying a portion of interest and a portion of principle that is the same every month for 360 months or 30 years what the banks are doing instead is they're saying you know what we're the bank weren't charged let's play by the rules that we make and the rules that we make say that it should be mostly interest up front with a little bit going to principal and after years and years of paying on a mortgage we'll start letting less of it go to interest and more go to principal and by the way after 30 years by the time you've paid the house off you'll have you'll have paid a certain amount of interest and obviously enough principal to pay off the house so how much interest are you really being charged on average you're gonna pay for your house two and...

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