Business
During the last couple of weeks, we’ve been getting a lot of questions about debt refinancing. Due to decreasing interest rates, refinancing seems to look like a good option for many people. We dedicated today’s episode to discussing the details of refinancing. Throughout the episode, we review several types of debt and what you should keep in mind if you’re thinking about refinancing. Stay tuned until the end of the episode, where Grant shares some valuable tips for consolidating credit card debt if you’re struggling with multiple credit cards. [01:22] Mortgage – How mortgage works and available options for financing a house. [04:22] Deciding Whether You Should Refinance – Grant reviews several factors you should consider to figure out whether refinancing your mortgage is a good idea. [09:54] 15-Year Fixed Rate Mortgages – Grant shares his take on why you should be mindful of the pros and cons of swapping into a 15-year fixed rate mortgage. [12:15] Student Loan Debt – Because of the low rates, refinancing may look like a good option for those who currently have student loans. Grant reviews what other options are available as an alternative to refinancing and when to think about refinancing. [19:20] Credit Card Debt – Why credits card debt is different from a mortgage and how to take advantage of the credit card system. [23:16] Consolidating Credit Card Debt – Grant reviews several options that are available to you for consolidating your credit card debt. [30:49] Business Debt – Grant explains why this is a good time for businesses that struggle with cash flow to consider refinancing. Resources Episode 34 - Why College Is So Expensive & How to Pay for It With Robert Farrington: podcasts.apple.com/lk/podcast/why-college-is-so-expensive-how-to-pay-for-it-robert/id1489821030?i=1000485750202 A Consumer’s Guide to Mortgage Refinancing – The Federal Reserve Board: www.federalreserve.gov/pubs/refinancings/ Settling Credit Card Debt – FTC Consumer Information: www.consumer.ftc.gov/articles/0145-settling-credit-card-debt