Before you or a loved one dives into a refinance, ask these critical questions: ▶ What will my new monthly payment be compared to my current one? ▶ How does my current loan payoff amount stack up against the new loan amount? ▶ What’s the break-even period? (Hint: It’s crucial to weigh closing costs and your new loan amount against monthly savings.) ▶ How long will it take to get back to paying what I presently am towards my principle
Category: Financing and Mortgage Advice
1031 Tax Exchange Had an awesome convo today on the potential benefits of 1031 Tax Deferred Exchange and the Delaware Statutory Trust (DST) with a new connection! If you’ve been in real estate for a while and are now considering passive returns, I’ve got the perfect solution for you. Curious about the possibilities? Let’s set up a personalized consultation to dive deeper into how 1031 exchanges and DSTs can work for you. I’m here to guide you through the possibilities,
🏡 HELOCs: A Love-Hate Relationship 🏡 Celebrating the payoff of our Home Equity Line of Credit (HELOC) this week! In 2021, as construction costs soared, we were in the middle of remodeling our home. A HELOC was the lifeline we needed to complete the project without indefinitely living in a demo’d house. However, reality hit hard. Our monthly payment more than quadrupled in just one year, from June 2022 to June 2023, all while the balance remained the same.