finances: Should I Refinance My Home?
- 01/21/09 02:18 AM
Whether or not to refinance your current mortgage is an important decision to consider while owning your home. The goal of refinancing should be to reduce your monthly mortgage expense (lower monthly payment) and reduce overall interest paid on your mortgage loan. Refinancing is not recommended for cashing out the equity in your home to pay bills or short-lived assets. This could put you upside-down on your mortgage in a declining market and/or erase necessary funds required to sell your home and pay off the mortgage balance at a later time. Whether or not to refinance your home depends on several factors: 1) … (10 comments)
Whether or not to refinance your current mortgage is an important decision to consider while owning your home.
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