Rancho Santa Margarita Homes & Lifestyles

I spend a great deal of time pouring over information pertaining to real estate, investments and money matters so I can make educated decisions in the shaping of my financial future. Often the information is written in language that can only be understood by C.P.A.’s, financial planners and investment managers. There’s a tremendous amount of information out there too and discerning whether or not that information is reliable can be challenging.

Every once in a while I come across an article that is thought provoking and kind of puts things in perspective. I read one such post the other day that was written by Jeff Brown of Brown & Brown Investment Properties. I feel compelled to share this post because it so clearly addresses a commonly asked question: “Since I’m doing a refinance right now, shouldn’t I take an additional $20,000 cash out so I can buy that new (fill in the blank) or take that vacation I’ve been wanting to take? Is it such big of a deal?”

I’ve know I’ve asked that question. Probably most of you have as well. With an escalating number of homeowners now looking to refinance out of their adjustable mortgages I have no doubt even more people will be asking the same question.

Jeff Brown, the “bawldguy” of Bawldguy Talking offers insight into the true cost of that little $20K item that you’re considering purchasing with your hard-earned equity. His post is entitled Over the Long Haul – How much Difference Can $20K Really Make? Wanna Buy a $1Mil Boat? This post is one post that you do not want to miss!

I guarantee that the next time you come face to face with that question you’ll think long and hard about whether you really need to spend that $20K.

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