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How To Retire Debt Free
Rob came to Right Trac Financial Group to discuss his
plans for retirement. He was concerned about his future. He planned to retire
in 12 years, but he had 22 years remaining on his home mortgage – plus a second
mortgage and $35,000 in personal debt. He knew he needed to do something if he was going to retire on time – and still maintain a good lifestyle. He came to me at Right Trac Financial Group. We put together a plan to help. Here is how we did it: First, we combined his present 1st and 2nd mortgages into one 15 year fixed rate mortgage. His new monthly payment is about the same as both of his old mortgages. We then obtained a 10 year fixed home equity loan to pay off his personal loans. This plan is saving him almost $400 a month! He is adding this money to his home mortgage payment. This additional payment to the principle will enable him to pay off his mortgage in 10 years! He now has a plan. "I was really worried about my situation. But thankfully my Home Loan Specialist took the time to listen to my needs and helped me create a plan to eliminate my debt by the time I retire!"
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