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Your Mortgage and Home Equity should be part of your Financial Planning

January 9, 2024 by Rhonda Porter Leave a Comment

Market Watch recently published “I really don’t want to work until I’m 67, I’m 57, make $100,000 a year, and have $300K in my 401(k). But I’m worried about my spending and have debt. Who can help?” The article provided some basic tips such as recommending this person use their income to pay off the debt (vs using their savings), change their spending habits and make sure they’re funding their retirement. [Read more…]

Filed Under: cash out refi, Debt Restructuring, Financial Planning, heloc, Offset Mortgage, Retirement, Selling your Home Tagged With: all in one loan, debt, financial planning, home equity, offset mortgage, retirement

Resource Guide on the All In One Loan

August 10, 2023 by Rhonda Porter Leave a Comment

I recently put together a new resource guide on the All in One Loan. The more I learn about this program, the more I appreciate this mortgage. I think it is probably the best mortgage available for most people if they qualify for it. [Read more…]

Filed Under: heloc, Investment Property, Offset Mortgage, Retirement, Reverse Mortgage Tagged With: all in one, heloc, investment property, offset mortgage, reverse mortgage

What is an Offset Mortgage?

June 19, 2023 by Rhonda Porter Leave a Comment

An “offset mortgage” also known as an “all-in-one loan” is basically a 30-year home equity line of credit that includes a sweep-checking account where the deposits go directly to paying the principal balance. Homeowners can still access the funds they deposit (and their home equity) from the account, using it to pay their day-to-day bills, vacations, home improvements, whatever the credit line has available. It is essentially a “normal” checking account. [Read more…]

Filed Under: cash out refi, Debt Restructuring, Financial Planning, heloc, Investment Property, Offset Mortgage, Reverse Mortgage, Second Home Tagged With: cash out refi, home equity, investment property, offset mortgage, reverse mortgage, second home

Holy cats! My credit card interest rates!

July 15, 2022 by Rhonda Porter Leave a Comment

I decided to take my own advice that I’ve been dishing out about credit cards and debts. Today I reviewed my credit card accounts to see what my current interest rates are. I’m pretty lucky to have great credit and that I’m able to pay off my debts monthly. [Read more…]

Filed Under: Debt Restructuring, heloc, Home Equity Loans & Second Mortgages, second mortgage, The Fed - FOMC, Uncategorized Tagged With: credit cards, heloan, heloc, interest rates, second mortgage

Another reason to pay off your credit card debts

July 11, 2022 by Rhonda Porter Leave a Comment

Yesterday I read an interesting article in the Seattle Times about how (and why) to pay off your credit card debt as soon as possible. The article warns of a slowing economy and future rate hikes by the Fed, which will translate to higher interest rates on credit card debt. In addition to the higher rates, the slower economy may cause some people to have reduced income which will be more challenging with the high interest rate debt.