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Should I refinance?

This is a topic titled Should I refinance? made in the Mortgage Talk section, belongs to our Mortgage Chat category; Long question but here goes... I have a home with a value of about 235k - 240k. I paid 225k (portland, OR) I currently owe approx. 205k. I have a first ...








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Old September 11th, 2008, 09:23 AM   #1
Mike
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Registered: Apr 2008
Posts: 1,497
Default Should I refinance?

Long question but here goes... I have a home with a value of about 235k - 240k. I paid 225k (portland, OR) I currently owe approx. 205k. I have a first mortgage of 5.75 (30 year fixed) andamp; a second mortgage which is, I think, 7.25 (30 year fixed) Would I be able to get just one loan now, a first mortgage only? Would that bring my payment down? Both my wife andamp; I have credit scores in the 730's - 760's
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