Home loan refinancing could be the answer to our problem.
June 4, 2008 7:15 am BusinessMy husband and I have recently suffered a reduction in our monthly income. We are woried that we may not be able to meet our monthly obligations. Home loan refinancing may be the answer to our problem. Today’s interest rates are lower than they were when we first purchased our home. If we refinance, and only borrow enough to pay off our current mortgage loan, we will probably have a monthly mortgage payment that is much lower than our current monthly mortgage payment. We would also save a lot of money in interest over the course of the loan.