Two Ways Mortgages are Like Life Partners
- No matter how many are out there, you only have to find one. (Or two, or realistically three -- max -- for mortgage loans and partners.)
- Your commitment is not a life sentence. What works for you now, may not work for you in the future, as your credit or income improve, rates go down, you move, or you decide you need to borrow against your equity. There’s no law prohibiting you from deciding that your mortgage loan -- or your life partner -- is just not working out anymore, and refinancing.
One Way Mortgages are Not Like Life Partners
- You should go into a mortgage with your exit strategy in mind. Many savvy homebuyers take mortgages knowing when, why, and how they will get out of them. Your life vision can and should impact your mortgage exit strategy.