Happy 45th Wedding Anniversary to my Parents
  
My parents celebrated their 45th wedding anniversary on June 23. We all went out for dinner as a family to celebrate.
Is Your Mortgage Coming Up for Renewal?
If your mortgage is coming up for renewal in the next year, it might be worth a conversation to lock in a rate now. We are seeing rates continue to go up, and if they continue to go up, it might make sense to pay a penalty to lock in a lower rate before your mortgage is up for renewal.
Here are some options of what you can do when your mortgage term matures:
1. Renew at the existing lender
2. Switch to a new lender that is offering a lower rate or better terms
3. Increase your mortgage to pull out equity (cash) out to:
3a. Consolidate debts
3b. Do renovations
3c. Purchase a rental property
3d. Purchase a new primary residence.
4. Decrease (pay down) your mortgage if you have the extra cash on hand
5. Set up a home equity line of credit
6. Set up a re-advanceable mortgage to get access to equity in the future
7. Sell the house and escape the mortgage payout penalty
Please let me know if you have questions about any of these.
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