What are your options? I know you have a great rate and you did well getting that loan when you did. I have a question. Are the higher-interest credit cards diminishing that low rate of 3%? Is your overall debt on interest taking away the extra cash you saved on lowering your mortgage rate?  What do we do when inflation is on the rise and everything is costing more? For a while, we can use the 0% transfer checks that creditors are sending out. We can manage the cards this way to lower the debt. Or, we can look into an equity line that will help keep the loan term the same. Or, there is the reverse mortgage if you have income restrictions, and are sitting on 45% to 100% equity.

If you have an income property you can utilize the income flow loans, known as the DSCR loans. This is where the rental income qualifies for the loan. This could be a good option, too. I have been looking into reverse mortgages and they are very nice for a few years. Many options for navigating through these financial stressors. It's best to sure up and balance out the checkbook while hanging on to what you have worked hard for.


April 11, 2022

Rock Pals - Solar Generators

Posted in Market Updates
May 26, 2021

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