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Esteemed Contributor
Shorty2U
Posts: 5,839
Registered: ‎03-09-2010

Refinancing houses, do it if you can.

‎09-29-2011 03:31 PM

Our bank called here the other week and asked us to refinance our home. It had 17 years left to pay on it at higher interest (I think over 5%) and they called and offered to refinance it for JUST 10 years at 3.25% interest (Due to my DHs perfect credit scores over the years). That is LOW! So we are doing it and the house will be paid off 7 years early and before DH's retirement.

I was hesistant (banks are not my friend, I dont trust them since the bailouts) but we did the Math (with the bank) and its amazing how much money we are saving.

IF you have good credit and if you can do it, everyone should do this now. Im telling you, when I was married (the 1st time, and this is years back) the interest was OVER 13%, So 3.25% is fabulous!

And in the end, the love you take is equal to the love you make~ The Beatles
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