How to make a refinance work for me?

teresa · Apprentice Joined: 01 Jun 2004 Posts: 5

Hello, folks! I’m Sam and I’ thinking of making a major step in our finances. I’m thinking of having our mortgage refinanced so as to be able to pay off our old debt. We would like to pay it out since it has a fixed rate and some friends have advised us that now is just the moment for it. My husband heard that we could mortgage our house. So, what do you think about this? Thanks in advance

jaymie · Apprentice Joined: 22 Mar 2008 Posts: 6

Hello, Sam! I believe that refinancing your mortgage is a good idea especially since the fixed rates are lower than they used to be. We have made the same financial move and everything is working out fine. We have decided to get the home refinancing scheme. Basically, this was our greatest asset which helped lower our monthly mortgage payments. We made this decision on account of the fact that we are not planning on moving out or selling the house for the next several years. Nevertheless, you don’t have to go for this option. There are plenty of home loan programs and I’m sure that you can find the most suitable one regarding your situation and there is no question that it won’t work for you! Hope this helps! Good luck!

margauxmorgan · Apprentice Joined: 08 Feb 2012 Posts: 24

good for you! Smile

paying off a debt as early as possible is the best in my opinion Smile

specially now that it has a fixed rate!

good luck!