Today as I had luch with my broker he brought up a great point. He said that in order to help the economy, we should be refinancing as many people as we can. Some banks came out with some great programs for mortgage refinancing. Some of them don't need an appraisal and don't even take your job into consideration. It is a new form of a streamlined loan.
Getting back to helping the economy. If everybody who can refinance does just that, it will give homeowners hundreds of dollars a month extra that they can use for other things. The more everyone spends their money, the faster the economy picks up. the faster the economy picks up, the more jobs we create. The more jobs we create, the more money there is to spend. the more we spend.... well you understand. Let's hop on the merry-go-round!