Reply To: need advice on refinancing mortgage

The question was not that we can’t pay our mortgage now, the question is that we are realistic and realize that as time goes on our expenses will grow (hopefully we will be zoche to make simchos AY”H!) and we do not have too many places to turn to supplement our income (no rich parents). the mortgage rates now are very low so we are thinking of taking a larger mortgage for 30 years. this will give us a sum of cash to use towards expenses or whatever else. We would end up with the same payment as before. The question is really whether to do it now when we are not desperate for the money to take advantage of the low interest rates, or wait until we really need the money when the rates might be higher. Realistically, unless we will a lottery this will probably be our only way to get the money we need. the barely making ends meet was to say that it is not really feasible for us to save and put away money.