Mortgage refinancing?

Question : Mortgage refinancing?
I refinanced 4 years ago for 15 yrs.Would I be better off refinancing for 30 yrs and paying more on my principal each month?
mortgage refinancing

Best answer:

Answer by Lisa L
No. It will cost you to refinance & you are adding 19 years back on your loan. It is to easy to not pay extra so you will not be paying it off as soon as you would now. IMO-bad idea.

Mortgage Refinancing

This entry was posted by admin on September 8, 2010 at 11:47 am, and is filed under Loans and Mortgages. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.

Comments (2)
Related Posts

#1 written by fawn 1 year ago

If you are looking for the best mortgage refinancing site, try this site

http://best-mortgage-refinancing.com/

Here you can find the lowest interest rate in your area

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#2 written by Bob F 1 year ago

If you can handle the monthly payments and plan to remain in the home for several years, the 15-year fixed will save you a large amount over the life of the loan.

On the other hand, 30-year fixed rates can be had under 5% right now. It is very possible that you can bring your monthly payments down significantly, and pay extra principal if and when you choose. So if you want more monthly cash-flow and the flexibility to make extra principal payments, refinancing could make sense.

It really depends on your situation and your objectives.

Hope this helps.

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