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Message: [QUOTE="veryolddog, post: 3515811, member: 129"] First, I do not have a mortgage and I have not had one for many years. However, when I was young, I did have a mortgage. And, I moved many times and had many new mortgages as each home was sold for the purchase of a new home. I have refinanced a mortgage if and only if their was a compelling financial incentive, did not cost me any out of pocket money, I had a lower payment, only re-financed the balance of the original mortgage, and had a significant lower interest rate. My objective was to have no mortgage and pay off this existing loan, so that my home was my equity savings for future investment. Any savings in payment realized was used to pay the mortgage principal in addition to the required payment. Just saying, Connecticut, was the most expensive place that I have lived in my own home when I was stationed in Groton for many years. However, it gave me the biggest return on home price during the 80's. Even when you pay off your mortgage, you still are a slave to government because they hammer you for property taxes so make sure you factor that into your home refinance as well. Proportionally, I pay more for my home outside San Antonio, than I do for a 5000 acre ranch that is my main residence in New Mexico. Crazy. [/QUOTE]