Update on this thread.
I just got off the phone with the closing agent. At long last, we'll be closing on our lunch hour Thursday. Our new payments will be about $110 less than now and we'll be done two years earlier. If we put that excess to principal, we'll own our house free & clear in 17 1/2 years.
We got a scare when we got our copy of the appraisal as it showed the value to be about 10% lower than we paid initially...at least we're not underwater (yes we know some who are). OTOH we learned that we both have better credit ratings than we thought.
Finally this refinance process will be over and done...lower payments and shorter loan duration--what's not to like.
I just got off the phone with the closing agent. At long last, we'll be closing on our lunch hour Thursday. Our new payments will be about $110 less than now and we'll be done two years earlier. If we put that excess to principal, we'll own our house free & clear in 17 1/2 years.
We got a scare when we got our copy of the appraisal as it showed the value to be about 10% lower than we paid initially...at least we're not underwater (yes we know some who are). OTOH we learned that we both have better credit ratings than we thought.
Finally this refinance process will be over and done...lower payments and shorter loan duration--what's not to like.