Strategic Refinancing: Building Long-Term Wealth

September 17, 2023

Credit card balances have been skyrocketing, and thanks to the Fed, rates have been increasing significantly on these balances as well. The same holds true for auto and personal loans.

If you are a homeowner with high indebtedness, there may be a solution that can also help create wealth, even if the interest rate on your current mortgage is low.


Fortunately, home values have risen over the past several years, giving many homeowners a large amount of equity. Instead of being trapped in their home, a cash-out refinance or a home equity line of credit can allow them to access this equity to pay off debt.


The potentially substantial monthly savings can provide significant cash flow relief. And if that extra cash is used to accelerate payments on the new mortgage, it's possible to reduce the life of your mortgage by many years. This can create much-needed wealth for many families, especially if current savings for your future are not where you would like.


If you would like to learn how this may benefit you, schedule an appointment with our team!

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