“Moving to a Higher Interest Rate?”
Joe,
I thought you were crazy when you suggested I give up my 3.75% rate and move one percent higher and payoff all my debts. I might of understood the credit card debts, but the cars? The numbers don’t lie, even with the increase of the rate, we are saving almost $2000 a month. Your coaching was amazing, all the interest we are paying now is all deductible for tax purposes. Even more ridiculous the mortgage payment only went up $685.
Thank you for your recommendation, we’re meeting with the financial planner when we return from our vacation.
I know I’m not the first to say to you, I will let everyone know of the magic you can create for others. Thank you again my friend!
Gerry & Jodi.
It sounds counter intuitive to suggest someone refinance and go to a higher interest rate, but in some cases, it is the right decision.
I am a math guy. If the math makes sense to move to a higher interest rate to accomplish an overall benefit, then I will recommend it each and every time.
