“Moving to a Higher Interest Rate?”

  “Moving to a Higher Interest Rate?”

 

 

 

 

Joe,

I thought you were crazy when you suggested I give up my 3.75% rate and move one percent higher and payoff all my debts. I might of understood the credit card debts, but the cars? The numbers don’t lie, even with the increase of the rate, we are saving almost $2000 a month. Your coaching was amazing, all the interest we are paying now is all deductible for tax purposes. Even more ridiculous the mortgage payment only went up $685.

 

Thank you for your recommendation, we’re meeting with the financial planner when we return from our vacation.

 

I know I’m not the first to say to you, I will let everyone know of the magic you can create for others. Thank you again my friend!

 

Gerry & Jodi.

 

 

It sounds counter intuitive to suggest someone refinance and go to a higher interest rate, but in some cases, it is the right decision.

 

I am a math guy.  If the math makes sense to move to a higher interest rate to accomplish an overall benefit, then I will recommend it each and every time.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Comment balloon 7 commentsJoe Petrowsky • September 26 2018 01:22PM

Comments

Good morning, Joe Petrowsky when the numbers make sense, you need to follow that path...

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 3 months ago

It all makes a lot of sense!!!

It sounds counter intuitive to suggest someone refinance and go to a higher interest rate, but in some cases, it is the right decision.

If the math makes sense to move to a higher interest rate to accomplish an overall benefit, then I will recommend it each and every time.

Posted by Sham Reddy, CRS (H E R Realty, Dayton, OH) 3 months ago

A $2000 monthly reduction in costs is a great result!

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) 3 months ago

the only issue is that they need to make sure they don't run up their credit card bills again - 

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) 3 months ago

Good morning Joe. Sometimes you have to do the numbers! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 3 months ago

Hi Joe- that's why it definitely pays to have someone as knowledgeable as you looking out for them. 

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 3 months ago

I always tell people to pay off what has the highest interest rate. If you use your home please don't run up the cards again.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 2 months ago

Participate