Posts Tagged ‘pay off debts’
How to Pay Off Debts
Posted September 12, 2013
on:A client I visited shared with me that he is very burdened by his debts. He has a primary mortgage, a secondary mortgage and a personal loan. He asked me whether he should pay off the debts and in what sequence. That’s a fantastic question.
Here are the partial details of his debts (I’ve concealed the amounts).
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The primary is a 15 year fixed rate mortgage with a rate of 3%.
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The secondary is a 5 year ARM with a current rate of 2.5%.
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The personal loan has a rate of 5%.
Here are my recommendations to him.
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