Tara has a mortgage at 6.00% with an outstanding balance of $200,000 and 24 years remaining. Assuming costs and fees of $3,500 to get a
Tara has a mortgage at 6.00% with an outstanding balance of $200,000 and 24 years remaining. Assuming costs and fees of $3,500 to get a new loan at 4.75%, how many months would she have to live in the house to justify making the change? Is there a good general rule to be applied to these situations?
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Authors: Dorje C Brody, Lane Palmer Hughston, Andrea Macrina
1st Edition
9811246483, 978-9811246487
