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4 Ways To Trim Your Housing Costs Right Now Business Insider

When prospects for rising household incomes are dim, as they are today, it's time to redouble your efforts to cut expenses wherever possible. That's especially true of housing, which remains the biggest expense for many retirees. Weak housing values and economic uncertainties have put a big damper on housing activity. But with interest rates at record lows, it may make sense to seek a lower-cost housing solution.

Refinance your existing mortgage. Mortgage rates were already near record lows when the Federal Reserve Board acted last week to further reduce long-term interest rates in general, and included a targeted effort to push down mortgage rates even more. Many Americans are unable to refinance their homes regardless of how attractive interest rates may be. They either owe more on their homes than they're currently worth, don't have enough income to qualify for refinancing, or both. But if you can qualify for a lower mortgage rate, consider refinancing.

Sell your home and rent instead. Source:

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Denver Mortgage Refinancing- 5 Mistakes to Avoid

www.123mortgageadvice.com - 5 Denver Mortgage Refinancing mistakes to Avoid! Don't get a home equity loan or refinance your home until you ...

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