Ep. 31 – What’s Happening with Mortgages and Refinancing Right Now with Brian Cook, Peak Mortgage
Mortgages and refinancing, what’s happening right now with them in the midst of the coronavirus pandemic, market crisis and pending recession?
“Stay Home, Stay Healthy” has been the order for about 4 weeks. But that isn’t stopping people from taking advantage of some of the lowest interest rates in history.
My guest is Brian Cook, mortgage advisor at Peak Mortgage here in the Tri-Cities, Washington, and we get right into the details of what is happening now, and if you are thinking about doing a refi what to consider.
We also talk about reverse mortgages. For example, this technique allows someone to stay in their home and therefore use the equity built up as a sort of a “bucket” of money to draw income from.
Therefore, Brian talks about things to consider if you or a loved one is considering a reverse mortgage.
There have been recent changes in law regarding keeping current on your mortgage payments. So Brian tells us stories of people who are thinking about skipping payments or taking advantage of “forbearance”. Right now, a lot of people are suddenly out of work and having a hard time keeping up on bills.
He goes into detail what that means, some of the “gotchas” to watch out for and what to do if you find yourself in trouble.
As always, tune in to hear all the details.
In this episode you’ll learn more about:
- Some background on why we’re seeing what’s happening in the mortgage arena.
- Why are rates going lower right now?
- He describes himself as a “Kennewick guy” and how to contact him.
- What questions to ask a trusted mortgage advisor?
- What you shouldn’t be afraid of.
- Brian’s Peak Mortgage website
- Watch this podcast on my YouTube channel The Financial Side of Life.
- If you are looking for a financial advisor to help you earn more, save more, invest more so you can do more, reach out to Angie today. #FinancialPlannerTriCities
Have a question that you’d like to have answered on a future podcast episode? Send your question — along with your name and the city you live in — to firstname.lastname@example.org.
Angie founded Avea Financial Planning and is a fee-only advisor helping retiring PNNL employees with tax-smart retirement planning, investments & fiduciary financial advice so they can be more confident and live life on their own terms.