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I am 57 years old with a 30 year balloon mortgage. I was thinking of refinancing at a somewhat lower rate of interest with a fixed rate. However, I have enough money saved in a tax-deferred annuity to pay off my mortgage right now. At present, my mortgage interest rate is twice the rate of return that I am getting in interest on the annuity. Your thoughts?
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#2
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Hello doved4u and welcome! I'm no financial expert, but if I had a balloon mortgage, and had the resources to pay it off, that is what I would do. But that's just me.
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CLICK HERE To join my Social group, The Payday-Loan-Free Advocates! Online Complaints Ohio Attorney General Online complaints: Federal Trade Commission. Ohio Payday Loan Laws CLICK HERE to find a Creditor |
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#3
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Welcome..
Code:
I was thinking of refinancing at a somewhat lower rate of interest with a fixed rate. Code:
However, I have enough money saved in a tax-deferred annuity to pay off my mortgage right now. At present, my mortgage interest rate is twice the rate of return that I am getting in interest on the annuity. Your thoughts? |
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#4
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Look at your long term goals.If you use those savings,you will have to replace them plus add to them before you retire from the workforce.
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Cajunbulldog Keeping an eye out for consumers. http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809 http://www.ftc.gov/os/statutes/fcrajump.shtm http://www.debtconsolidationcare.com.../about216.html Use this letter to protect your rights under the FDCPA myfairdebt.com & myfaircredit.com-Good source of case law in forums. |







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