HerMoney Podcast Bonus Mailbag #27: Mortgages, Rental Income And Recasting A Loan

We were so thrilled to see many of you reaching out to us recently with your questions — specifically, your real estate questions! Many of you have had home buying and selling solutions on the brain with the major cross-country moves (and smaller local ones!) that the pandemic + job changes necessitated over the last year and a half. 

With that in mind, we wanted to put out a special Mailbag-only episode to tackle all your pressing questions. Whether you’re planning on buying, selling, renting out a property, refinancing, or just waiting out this crazy market, we’ve got you covered.

First up, we tackle a question from Elissa about renting out her duplex and possibly getting a cohabitation agreement with her boyfriend. Next, we explore the concept of how income from rental properties should be added into our “How will I pay for retirement?” and our “Have I saved enough for retirement?” equations. We also advise a listener who is inheriting $225,000 from the sale of her mother’s property, and is hoping to retire in 2028. She’s seeking guidance on how to use her windfall wisely — to pay off her mortgage or invest in the market? We then hear from a listener named Janice who is trying to lower her monthly mortgage payments by recasting her loan. We also hear from a listener who is wondering if it makes sense for her to refinance she is considering moving in the near future. 

Thank you so much to all our listeners for writing into us! Reach us with all your questions for Jean at MAILBAG@HERMONEY.COM.