Last week the wife and I took Obama's advice and closed on re-financing our home mortgage. We were able to shave 175 basis points off of our original interest rate, saving us around 18% on the monthly note, which translates to around $300/month less in the monthly house payment. Yeow! That $300 will either be plowed back into the note to pay it off early, or we'll save it or use it for other needs.
You should look into whether or not it makes sense for you to refinance. Interest rates can be had below 5% these days, and that's pretty attractive. I don't know about you, but we can sure use that extra $300/month.
Thank you, President Obama!
He's always watching
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