Finance Blog

Paying less each month after utilizing a mortgage refinance can put cash in your pocket now, but at what cost? It is important to understand that while the payments may decrease, you may be unwittingly be adding to your overall interest costs. Having lower payments will also mean that the time spent paying off the debt will most likely increase as well. Make sure to create an amortization table in order to get a clearer idea of how the new plan could affect you over time. You could also use it to compare with your current mortgage.

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