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Success Story: Bad news gives us good low interest rates.
Bad news gives us good low-interest rates. The lowest in 30 years! So what do we do? Grab the free money, replace old debt with new debt so that we have 1 low payment in retirement! I got a call from longtime clients that I hadn’t spoken to in 6 years. They had refi’s...
Can I stop making my monthly payment on my mortgage and apply everything to the principle?
Wouldn’t that be nice? But no, you signed a contract called a mortgage or promissory note where you agreed to pay both interest and principal every month. If you stop you will trigger the default clauses of the note. By not paying the mortgage, you broke that contract...
What is a “wrap around” mortgage?
You don’t hear this one too much anymore because interest rates are so low. A wrap mortgage is where new mortgage debt is “wrapped around” an old one. This also can be called an all-inclusive-trust-deed (AITD), or seller wrap, or subject to (people call it this but it...