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Home > Archive: February, 2009

Archive for February, 2009

Going to Try and Refi

February 3rd, 2009 at 07:17 am

This is something we haven't yet done. Each time the numbers were crunched, it was not worth our while. This time the number crunching says it is worthwhile. I'm very nervous as I don't know the process. I did a prequal a little while ago with a big lender and will talk to them later today.

We have 10 years left on our loan (due to prepayment) and at the current rate, we can take the 30 year, prepay the difference we are saving, and pay the new loan off even earlier. The upside being that it will allow us to cut our cost of living substantially should we hit hard times in this economy.

Wish us luck- Feel free to offer any advice.