Should I refinance to a 15 or 20 year mortgage? This reader wants to live mortgage-free and both refinanced term lengths offer significant interest savings. Q: We took out a mortgage in 2011. It’s a 30-year with an interest rate of 5.125 percent. Our expected payoff date is 2041, but we’ve been paying biweekly. We [...]
Is a mortgage recast right for you? Consider these 4 factors for a “home run refinance” to determine if the deal is a good financial move. Q: I was offered a mortgage “recast” and I need help evaluating if it is a sound financial move. My home is worth $250,000 and I owe about $68,000 [...]
On this week’s WSB radio show, Ilyce talks about how to maneuver your home refinance. Interest rates are near historic lows again and many consumers are thinking about refinancing. Here’s a few of the topics covered on Ilyce’s show on January 18. Caller question: Should I put my six rental properties in a Limited Liability Company [...]
