As we said before, those Christmas credit card bills are starting to roll in. As a result of Christmas 2020, you may find that you have a sizable amount of high-interest credit card or personal loan debt. A cash-out refinance can improve your cash flow situation and save your family money in the long term.
Everyone’s situation is different, but getting rid of high interest debt is generally a good move. With interest rates as low as they are, you may be able to refinance with some cash out and reduce your monthly mortgage payment at the same time. With house values on the rise, you might even be able to remove any mortgage insurance you might have on your loan. This can result in hundreds of dollars back in your pocket every month.
If you don’t have credit card debt to pay off, it might be a good time to get a jump start on spring projects around the house. Or book that family vacation you had to cancel in 2020. Every situation is different…and we are here to help.
Have questions? Feel free to reach out to Scott Bennett at 503-703-4699 or firstname.lastname@example.org to talk about your current situation.