Refinance now?
Hi Terry,
I catch you on the radio whenever I can. I have learned a lot and appreciate your knowledge and advice. I have an ‘interest only’ 10 year mortgage that is coming due in July 2020. Wondering if I should obtain a 30 year mortgage
now or wait to see if rates will drop even more in the next several months.
Also I am 71 and have a IRA that has about $300,000 in it and I am worried about what is going on with stock market. I imagine it is time to sit down with my financial advisor. I am not heavily invested in the market but part of my portfolio is in it. You were on the radio this morning and I think you were addressing this subject. I missed it, unfortunately. Could you give me your take on this. Thanks for any advice.
Terry Says
Rates will drop substantially in the next few weeks. Start the process now. Contact Leslie Struthers at Guaranteed Rate at 312-379-3526. Or by email: Leslie@rate.com.
You might even consider a 15 year mortgage, especially if you hope to stay in the home that long. It would be nice to have a fully paid up home in 15 years — and then qualify for a reverse mortgage if you still want to stay there.
And I hope only a relatively small part of your portfolio is in the market.
