We have talked about refinancing, and debt consolidation before. The math is simple; replacing high interest consumer debt with relatively low(er) interest rate mortgage money will reduce your monthly payments and overall interest costs. But when it comes to replacing our mortgages, hefty payout penalties often outweigh interest savings, and suddenly the math becomes complicated.…
Life gets expensive, and owning a home often adds to the cost of life. Mortgage payments, property taxes, condo fees, maintenance, etc on top of one’s existing debt obligations like; car payments, credit card debt, life insurance, and more adds up. However, for those with equity in their properties, home ownership can provide a wonderful…
Not all mortgages were designed for everyone, here is some basic information about how mortgage products can differ Deciding between going with a variable rate or fixed rate mortgage product is always difficult, but even more so as a First Time Home Buyer. Being unfamiliar with the available products is one part of the confusion,…
