Posts Tagged refinance

Is it a good idea to pay off your mortgage before retirement?

Baby Boomer Couple

For homeowners approaching retirement age, it’s important to have a specific plan in mind to maintain your financial independence. But should your retirement plan include paying off your mortgage? More specifically, should you try to pay off your mortgage before you retire? Some financial planners say no, it’s better to keep your rate and payments as low as possible to maintain adequate cash flow. But a growing number of experts say paying off your largest liability (which is usually a mortgage) well ahead of retirement can provide more financial freedom in the long run. 

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It’s not too late to take advantage of the summer refi boom

rate lock

The summer of 2016 was the season of refinancing. With mortgage rates staying low and credit availability moving up, more and more American homeowners saw an opportunity to save by refinancing their mortgage. Maybe you considered it but for one reason or another, decided not to act. Think it’s too late to get in on the action? Not necessarily. Although rates may have seen a slight uptick in response to a positive jobs report this month, they’re still well within the historically low range. Not only that, but since mortgage credit availability got a shot in the arm in July,

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Tips for Dealing With Negative Home Equity

help underwater

If you are one of the 4 million American homeowners struggling with negative equity, do not despair. Even though being underwater in your mortgage is a less-than-ideal situation, it doesn’t necessarily mean you’re destined to endure financial hardship. There are ways to wisely and effectively deal with negative equity, and depending on the specifics of your situation, you may be able to recoup your lost equity faster and easier than you think. In today’s post, we’ll review some of the best-practice methods for handling negative equity. As you’re reading, please keep in mind that these methods may not work for everyone

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