Considering Refinancing Your Home? What You Should Know.

If you are like me you have been inundated with calls and mailings inquiring if you have an adjustable rate or interest only product.  Well that got me thinking, “Should I consider Refinancing now?” So for all of you scratching your heads right now. 

Here may be some sound advice to consider.

School of thought: Refinancing your mortgage can lower your payment by reducing your interest rate. Typically homeowners have refinanced their homes to consolidate debts, or pay for another a large purchase.  All are valid reasons to refinance. However, before you refinance, think it through. The following are some things to consider before signing on the dotted line, especially to a longer and higher mortgage.