FUTURE MORTGAGE
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!