Choices

You can’t stop time; you can only hope to use it wisely. Lately, I’ve been constantly on the go…from the time I hear my dog bark in the morning (usually around 5:45 AM, but the shorter days to come may push that later) until I land at my desk. My morning checklist includes emptying the dishwasher, walking the dog and going for a run or swim. During a recent swim, I found myself counting the tiles on the pool bottom, lap after lap, and thinking about how we fill our days, weeks, months, and years. Each day, I observed, is filled with the “have-to’s” that we work on while we scrounge for minutes to do our “want-to’s.”

Thinking about that led me to, unsurprisingly, a larger question about mortgages. Lately, many of my refinance clients have been giving thought to how long they have been in their current mortgage. The concern that most of them express is that they don’t want to “start over” or “lose ground” on the money they have already paid. This is great thinking, which shows their focus on their financial future. It puts time — and how time relates to money — at center stage.

In the world of mortgages, things today somewhat parallel the “works” bar at Burger Chef (stick with me here, there will be some fun trivia questions at the end). Order your mortgage “with,” in the parlance of Burger Chef, and you get the amortization schedule you are used to…for instance; 30 years, 20 years, and so on. If you prefer, though, you can customize your mortgage and pick an amortization schedule that suits you and lets you keep pace with just where you are. I have several clients who are taking out 12-year mortgages right now. We can help you get a mortgage with an amortization schedule as short as 5 years, or as long as 29 years (as opposed to a 30-year). Are you wondering if this might be right for you? Contact me and we can discuss which options you would prefer.

 

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