Ask Terry Questions FUTURE MORTGAGE

FUTURE MORTGAGE

By Terry Savage on August 12, 2018 | Housing / Real Estate

TERRY, CURRENTLY NEARING RETIREMENT IN 6 YEARS, HOUSE WILL BE PAID OFF IN ONE YEAR. QUESTION IS DO I MOVE NOW TO AVOID HIGH TAXES IN ILLINOIS OR WAIT UNTIL RETIREMENT THEN MAKE THE MOVE WITH THE INTENT TO PAY OFF NEW MORTAGE BEFORE RETIREMENT.

THANKS

Terry Says

I’m a little confused about your question. but let me give you one important piece of advice. In retirement, you will likely not get a mortgage because you won’t be able to demonstrate regular income! So wherever youre planning to move, if youll need another mortgage buy the new home while you are still working!

money

ASK TERRY

a personal
finance question