Exploring Refinance options

Hi Michael if your agent didnt offer to help you answer this question and was just trying to sale you on what they wanted for you it is time to look else where   There are a lot of things to consider First 4 years is not very long but if it is 4 years of a large payment that wont allow you to retire then a refinance into a lower payment may be the ticket to putting your feet up and not waking up to an alarm clock every morning   The best option would require more info - you will most likely be stretching the payment out to make it lower but the rate will also help a lot that rate is pretty high in todays market I would take a look at the 10 year 15 year and the 30 year option - also depending on age you may also want to familiarize yourself with reverse mortgages as that is a possible way to eliminate the payment all together - basically the equity pays the payment  - this is not a tool for everyone but for anyone house rich and cash poor it can be a life saver   If you would like to look at all of these options feel free to contact me - this is what I do for a living and would be glad to help   brian@aimwithfocus.com   Brian Barnes ENG Lending - Loans in all 50 States