The simple rule of numbers! Don’t let your pride and your ego hold you back from making a good financial decision. Home values are high, and so are consumer debt rates if you have credit cards or installment loans. Your home is your bank, where you can draw from the equity with certain tax benefits.
Sometimes, a higher rate on your mortgage is actually the answer if that means carrying it for a few years to improve your cash-flow, jump your FICO score, eliminate your high interest credit card debt and pay off your mortgage sooner - with the opportunity to refinance later. The key in all of this: Moving Forward, Stay Disciplined!
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