04-05-2009, 10:17 PM
Back in the 80's when I bought my house, I was paying 12% interest. The first chance I got to get a lower interest rate I took it, instead of going for a lower payment I went with less years and I did that four times until my final refinance was for 5 year. It still took me 20 years to pay off my house but I'm sure I saved thousands even with the cost of refinancing. I guess everyone has to do what is best for them but this method worked for me. Sure was nice to get that mortgage payment out of the way[
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