Page 12 - August 2020 Issue.indd

home by adding living space, amenities, highly recommend going with a shorter- other things in your life. Don’t let the
or upgrades. term loan. Building equity and reducing uncertainty of today’s economy and
your overall interest cost is always a political climate be the sole reason you
If not looking to take additional cash
good investment decision. either do or do not go with a shorter
out and do what is called a “rate and
term. Chances are whatever happens
term” refinance, be clear in what you When thinking about how low of a
going forward will not be as bad as we
are hoping to accomplish. Do you want term mortgage to get, go with as short
think it will.
a lower monthly payment? Then a a term mortgage as you can reasonably
longer-term loan will yield the lowest afford. By “reasonably” I mean that, But if your time before you are planning
payment. If the payment you are making based on your current income and cash on retiring is getting short you may want
is comfortable, or you feel that you can flow, consider the monthly payment to consider going with a longer term loan
take on a slightly higher payment, then I that allows adequate funds for the to reduce your monthly payment so as to
have less of a monthly obligation when
your retirement income is less than what
you are making while working.
Use the current economic and political
climate to your advantage. Th e outcome
Because you deserve qqualified, llocal representation of the presidential election will affect
interest rates. How much is anyone’s
when managing life’s important issues. guess. But the one thing that is certain,
the outcome will not reduce long term
? ESTATE PLANNING rates lower than they are now. Which
? RESIDENTIAL & COMMERCIAL 300 Market Street means there will be only one way that
they can go. At best they stay the same
Suite 104
REAL ESTATE AND SETTLEMENTS Denton, Maryland as they are now.
? LLC FORMATION & BUSINESS LAW 21629
? MUNICIPAL & ENVIRONMENTAL LAW Mr. Rowe is Vice President/Lending for
? GENERAL LEGAL COUNSEL 410.310.1774 Bay Capital Mortgage Corp. with offi ces
in Easton and Annapolis. He has lived in
Our attorney, Patrick Thomas, and our Settlement shayman@mlg-lawyers.com Caroline for his entire life and supports
Agent, Sandy Hayman, are available to travel to your www.mlg-lawyers.com the county by volunteering in a variety of
preferred location. ways. He currently lives near Greensboro
with his wife Jeanne and daughter Kelsey.

Commercial Saint Martin’s
or Residential Ministries

Fighting Povery on the
Call me for all Shore for Over 30 Years

your Real Estate St. Martin’s Barn
needs. Thrift Shop

14374 Benedictine Lane, Ridgely
410-924-4807 410-634-2537 x114
Tues., Thurs., & Fri. 8:30-11:30 AM
Wed. 6-7:30 PM
1 Saturday of the month 8-noon
st
Fridays are
Senior Discount Days
BENSON & MANGOLD All clothing and housewares in the
110 Market Street shop will be discounted 50% to
Mike Shipley Denton, MD 21629 Seniors age 60+
mshipley55@comcast.net 410-479-0777 Donations accepted during
regular business hours
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