We are three quarters into 2020, and the experience thus far has been akin to riding a pendulum, swinging from insurmountable obstacles on the road to imminent disaster to a world full of positive change, hope, and possibility.
Over the last several years, I have worked with banks to fund my own real estate ventures and would like to share what I have learned.
With the end of the second quarter of 2020, we have only reached the midpoint of what already feels for many of us like one of the longest years of our lives.
Currently, mortgage rates are at an all-time low, and real estate market values are up. Because of this, it’s a good environment to do a cash-out refinance. In a cash-out refinance, you refinance your existing mortgage for a larger amount than the original mortgage, converting your home equity into cash. You can then use that cash to pay off student loans, credit cards, or car loans.
If asked, most people would probably say they are rational individuals who make wise decisions. Indeed, logical thinking and prudent behavior are the norm for the majority of people in most instances. Unfortunately, when it comes to money management, people who are otherwise rational often tend to act irrationally