mortage

1

Is the interest rate risk worth it?

Feb 29, 2012
We have 7 years left to go to finish paying off our mortgage and we have a manageable amount of home equity borrowing. How wise or risky would it be to consolidate that, borrowing at a lower rate, if the new loan would be a home-equity loan? That's the advice we're hearing from our bank and the stated rate should be lower than the rates we have on our existing mortgage and home-equity borrowing. Is there a reason to think twice about this? Thanks! John, St. Paul, MN
Posted In: mortage, home equity loan

Buzzworthy

Recent comments on our stories..

Annapolis57's picture

Three life rules from Donald Rumsfeld

Journalism: Practiced. Excellent interview. Thank you.

jgrothues's picture

Three life rules from Donald Rumsfeld

Donald Rumsfeld's interview on Marketplace today was absolutely unbelievable. Really. Is one of his rules not to believe your own spin? I...

rcd43's picture

Three life rules from Donald Rumsfeld

Ryssdal's interview with Rumsfeld was breathtakingly inappropriate. "Marketplace?" If Ryssdal wants to promote his obvious biases...

entropyman's picture

How World Finance makes a killing lending on the installment (loan) plan

There is something fundamentally wrong with predatory lending businesses, whether they are pay day loans or installment contracts. The business...