On this MoneyWise, Rob West and Steve Moore talk about budgeting and mortgage options for maintain previously purchased homes. Also they discuss what to do about your credit cards once you have paid them off.
Then, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:
- If you're approaching retirement age and an adjustable rate mortgage for which the principle has doubled, should you still try and pay off the house or just sell it?
- If you're in the process of paying off credit cards, should you close the cards or leave them open?
- If you just inherited a plot of land with 2 homes that need repairs, should you get a reversed mortgage if your income doesn't keep up with the maintenance or property tax?
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