A great time to refinance your home mortgage says Prof. Cherry
You can achieve what you call a break even period. The cost that you put forth to refinance that mortgage can be recouped by a lower payment the longer you live in your house,” said Preston Cherry, an assistant professor of Personal Financial Planning at UW-Green Bay. “That monthly savings every month, at some point, nullifies the cost you had at year 3, 4 or 5. “Your home mortgage is another way to have ready-cash for your household during the pandemic.”
