Save a Fortune On Your Mortgage

Starting early means more savings that you can use elsewhere. Proverbs 21:5 says, “Slow and steady plodding brings prosperity.” So, begin your journey to an early mortgage payoff now.

On Today’s Program, Rob Answers Listener Questions:

• I purchased a home nine years ago to provide housing for my mother. I had put her on the mortgage and deed for the home to get it financed. Since then, I have paid off the home. Would it be best to have my mother sign the deed through a quitclaim deed so that I can move ownership of the home back to myself, or could I put the home into a trust I have set up? I want to ensure the proper steps are taken, and the home is handled appropriately after my mother and I are gone.
• My wife passed away in March at the age of 60. She had retired from her career as an educator but was not yet drawing Social Security. I will turn 63 in July and don't plan to start drawing my own Social Security until age 67 or later since my health is good. Can I apply for Social Security benefits now and suspend my own, instead of drawing on my late wife's benefits, so that mine can continue to grow until I need to start drawing on them?
• I will be turning 69 years old in November, and my only source of income is my Social Security checks. I have 250 acres of property that I am considering selling. If I sell the property, would I qualify for the 0% capital gains tax rate since my total annual income is below $40,000 and comes only from Social Security? The property was purchased in 2002 for $200,000, and I am considering selling it for around $500,000.

Resources Mentioned:

• Movement Mortgage
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App