Quote:
Originally Posted by roob1
Assuming you have current and continued solid financial solvency, and could own your residence outright with no financial impact on your lifestyle:
Given low mortgage rates 2.5%-3.5%, how would you feel about holding a mortgage on your residence in your retirement years?
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I started to refi with Citizens First last year to take advantage of the lower rates. they wanted closing costs of $17,000 to refi $300,000. To me, it was just legalized usury and we canceled the loan. Then they said they would lower the closing costs by $7,000 which kind of supported my opinion.
Plan to stay here another (fingers crossed) 25 years and with no one to leave my estate to, will just go with a Reverse Mortgage.