An Open Letter to my Kiddos & Young Clients -

FORECLOSURE-PROOF STRATEGY (SHARING): I expect mortgage rates to go down as low as 4%, and then begin to climb indefinitely. (Just a guess, but a pretty educated one, based on years past.) It may be a good idea to poise yourselves for one last refinance when it gets to 4%. Planning ahead will help you take advantage of the opportunity. Make sure your new mortgage is stretched out for a minimum of fifteen (and preferably 30-40) years. Try to get a new mortgage that will allow one interest rate reduction during the life of the loan, upon your request. (just in case) This is pretty common place. Why? A strategy like this gives you an option to regularly pay down the principal BI-WEEKLY, if you are able, but not be in jeopardy when/if there are tough times ahead with sickness or job-loss. The beauty of this strategy is a very low "required" payment, and lots of options for early payoff. Because I care, -mom Shari Roberts-Osojnak, REALTOR®/Associate Broker, GRI, ABR, SHS REAL ESTATE ONE. Chelsea * Dexter * Scio * Ann Arbor, MI Shari@ISellChelsea.com