Consider this if you have a great credit score:
Refinance your mortgage if your interest rates is 4% or higher. The savings are tremendous!
Adjustable rate mortgages payments increase when interest rates increases. Home equity loans – a home equity line of credit (HELOC) late penalties are often more harsh than a regular mortgage. *Use an attorney for large financial transactions (costs $200-500) to prevent issues with predatory loans and lenders. Banks are always trying to find new ways to make money – and may not always be in your best interest.
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel United Methodist Church (UMC) in Montross, VA. Rev. Dr. Taylor promotes best practices by teaching financial literacy workshops and currently serves as Finance Chair in the Rappahannock River District for the UMC. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.