Renewed My Mortgage
[ Wednesday September 11th 2019 at 12:05 pm ]
I just renewed my mortgage. I am happy with how the appointment went. I am in the position where I could pay it off because of an inheritance I've been receiving. But doing so would mean I receive less money from my disability pension for housing each month. The financial planner at the bank has been very helpful. She agreed to carrying the mortgage as a low rate that would continue to make me eligible for the maximum housing benefit.
With all the money I've had to put in my home this year it has worked out for the best. I had to replace my furnace, hot water tank and sump pump. My natural gas cooking range oven needed the ignitor replaced. Now I have three wood frame windows also needing to be replaced. It makes financial sense to carry the mortgage with a minimal payment for another year.