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is this a good time to refinance

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Guest	Posted: Fri Mar 05, 2010 1:35 pm    Post subject: is this a good time to refinance Like 0 Dislike 0 I own 65,000 in my house with a 5.875% interest rate.Do I have to pay to refinance for a 20 years term?
Niicss Joined: 03 Oct 2005 Posts: 4770 Location: New Jersey 499.28 Dollars($)	Posted: Mon Mar 08, 2010 4:45 am    Post subject: Like 0 Dislike 0 Rates are still going low and you can apply for a refinance provided you have equity in your property. However, if you don't mind me asking, how long are you planning to stay in that property? You should refinance only if you're planning to stay in that property for the next 7-8 years. This will help you in offsetting the closing cost that you pay while refinancing. Also, it is better to get a refinance if your rates get reduced by 2% at least. _________________ Good is the Enemy of Great.

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