Jill, Mariana, Nick discussed on Jill on the Money

Automatic TRANSCRIPT

IRA's refinancing she covers it all back to Geelong money with gills lesson you are back it's Jill on money maybe it has something to do with that time of year but we got a few different realistic questions I had and we just finished up with our first question of the program about buying a home with Mariana in the bay area we're going to talk a little bit about the idea of whether or not it makes sense to make extra payments on a mortgage now what's fascinating is mortgage rates are going back down and had gone back down and I think this is I'm starting to get people a little bit on nerves in some respects like Hey should I refinance again should I pay down my mortgage I paid off that is really dependent on what's going on in your life but don't forget when you think about a mortgage these two aspects of it is you know one is yes it feels good to be relieved of your debt but there's another aspect of it which is you have the ability to hang on to your money right one to pay down that mortgage you don't have the money anymore so we often will field this question that's why I wanted Nick from the bay area to bring us to date to see whether or not my previous advice still tends to hold so here's our next caller ideal how you doing today great what's up so I was caught on a good to see just got a small raise and was curious whether it be better off putting a little lecture towards the principal payment on my mortgage or putting it towards retired okay I love I love paying down debt but figured I'd ask questions all right any other debt that's out there any student loans and the Karrer any credit card anything else thankfully no all right that's great tell me about yourself how old are you thirty seven okay Roger you married single partnered okay married and right now the house is worth approximately how much or call eight hundred fifty thousand okay now tell me the mortgage amount that is outstanding is how much three ninety eight what is the.

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