Refinancing
I’m 77 & own a home for 14 years. We still owe $167,000 on our mortgage @ 3.67%. Home’s value is $350,000. We’re not sure how long we’ll remain in the home. Recent quotes: 2.5 to 2.8% with points from $3,000 to $5,000. At my age is it wise to add that much $ to our mortgage? It will take 2 to 7 yrs. to pay them off.
Terry Says
Do NOT change your mortgage now. Rates have been rising, and you will no longer get that deal. Just stick with what you have!!
