“Moving to a Higher Interest Rate?”

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Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

  “Moving to a Higher Interest Rate?”

 

 

 

 

Joe,

I thought you were crazy when you suggested I give up my 3.75% rate and move one percent higher and payoff all my debts. I might of understood the credit card debts, but the cars? The numbers don’t lie, even with the increase of the rate, we are saving almost $2000 a month. Your coaching was amazing, all the interest we are paying now is all deductible for tax purposes. Even more ridiculous the mortgage payment only went up $685.

 

Thank you for your recommendation, we’re meeting with the financial planner when we return from our vacation.

 

I know I’m not the first to say to you, I will let everyone know of the magic you can create for others. Thank you again my friend!

 

Gerry & Jodi.

 

 

It sounds counter intuitive to suggest someone refinance and go to a higher interest rate, but in some cases, it is the right decision.

 

I am a math guy.  If the math makes sense to move to a higher interest rate to accomplish an overall benefit, then I will recommend it each and every time.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Topic:
Mortgage / Finance
Location:
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Groups:
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Tags:
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Rainmaker
4,602,291
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning, Joe Petrowsky when the numbers make sense, you need to follow that path...

Sep 28, 2018 03:04 AM #1
Rainer
463,386
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

It all makes a lot of sense!!!

It sounds counter intuitive to suggest someone refinance and go to a higher interest rate, but in some cases, it is the right decision.

If the math makes sense to move to a higher interest rate to accomplish an overall benefit, then I will recommend it each and every time.

Sep 28, 2018 04:21 AM #2
Rainmaker
1,296,505
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

A $2000 monthly reduction in costs is a great result!

Sep 28, 2018 04:23 AM #3
Rainmaker
1,592,926
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

the only issue is that they need to make sure they don't run up their credit card bills again - 

Sep 28, 2018 04:43 AM #4
Rainmaker
2,932,456
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Joe. Sometimes you have to do the numbers! Enjoy your day!

Sep 28, 2018 05:35 AM #5
Ambassador
3,580,227
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Joe- that's why it definitely pays to have someone as knowledgeable as you looking out for them. 

Sep 29, 2018 01:05 PM #6
Ambassador
1,512,753
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I always tell people to pay off what has the highest interest rate. If you use your home please don't run up the cards again.

Sep 30, 2018 12:17 PM #7
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Rainmaker
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