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The Michigan Group

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Parent Issue
Month
July
Year
1993
Copyright
Creative Commons (Attribution, Non-Commercial, Share-alike)
Rights Held By
Agenda Publications
OCR Text

. Bob Hefner pCZQ V REALTOR REALV 662-1867 W ESTATENS. 662-3958 MATTERS ,í=í % Low Interest Rates: 5 4s Four Options for Homeowners Sp As I write this, interest rates are the lowest in 20 years. tf you are a homeowner, the low rates shoukJ cause you to think about your housing situation, present and future. For example, magazines and newspapers are full of advice, primarily: "Save money by refinancing your mortgage." In my view, however, there actually are four options available to homeowners: (1) Move to a different house, because low interest rates are in your favor both when you sell and when you buy. (2) Renovate your current home, using a low-rate loan to finance the improvements. (3) Sit tight with your current mortgage and home. (4) Refinance your mortgage. When considering these options, decisions shoukJ be based on the many circumstances that vary with each homeowner, such as how long you expect to own your house, paMaiq the current market value of your home (as is Wr or as renovated) and the availability of the kind of house you would want to move to. If you would like some expert advice when Vrü?) W pondering these matters, please give me a s7kéC# cali. I would be happy to consult with you, but á VwHTm you would have no obligation to me. Hké all

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