When Is It Right to Refinance and What to Keep in Mind


When you refinance your mortgage, you're basically starting all over again with the mortgage process. Your new mortgage pays off what's left of your old one, and you start making payments all over again on the new one. It's often advertised as a good thing, and while it can be for some homeowners, it can be a terrible move for many others. It all comes down to why you're refinancing and your own unique situation. Here are some reasons why you should — and shouldn't — do it and what to keep in mind if you do: