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The Benefit of Revisiting Your Mortgage in Different Economies
The Benefit of Revisiting Your Mortgage in Different Economies We continue our video series this week with Dan and Larry. They discuss why homeowner’s should consider re-approaching their mortgage in today’s economy, healthy economies, and bad economies. Check it out: *below is a transcription of the video. Reviewing Your Mortgage in the Present Economy A lot of people are getting notifications right now that their home values are up. Be it from realtors listening to them or maybe tax values are going up. That's a good indication that it might be time to take a look at your mortgage. People that have purchased in the last 2-5 years may have the situation where they don't have 20% down, so they're paying PMI (Private Mortgage Insurance). With the values of their home up, if we sit down and take a look at their mortgage, we may be able to reset it without the Private Mortgage Insurance (and cost that comes with it). Resetting Your Mortgage in a Healthy Economy Can Make A Difference Many homeowners are under the assumption that you would take a look at your mortgage again in a bad economy, to stay secure. This is a smart thing to do, but the reality is that you should be reviewing your mortgage for potential refinancing in any fluctuating economy, especially a healthy economy. It could make a difference of a couple hundred dollars a month on some people's payments. That really adds up over time! If you're looking for