http://i-refinancetoday.com/does-it-pay-for-me-to-refinance-my-house-or-not.php Advice on Refinancing, Mortgages, Loans, Credit, Personal Finance and More.. Thu, 25 Mar 2010 16:24:36 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://i-refinancetoday.com/does-it-pay-for-me-to-refinance-my-house-or-not.php/comment-page-1#comment-70 Daniel Sun, 23 Aug 2009 00:48:28 +0000 http://i-refinancetoday.com/?p=144#comment-70 Hello, If a mortgage comes due every 5 yrs and I have to take the new rates available, why would anyone want to refinance for a lower rate when they have to pay such high prepayment penalties? If the terms would be for 25-30 yrs I can understand you save tens of thousands, then you don't mind paying 3-6 months penalty, because you are certainly recuperating in the long run. But for five years? Can you explain or help? Hello,
If a mortgage comes due every 5 yrs and I have to take the new rates available, why would anyone want to refinance for a lower rate when they have to pay such high prepayment penalties? If the terms would be for 25-30 yrs I can understand you save tens of thousands, then you don’t mind paying 3-6 months penalty, because you are certainly recuperating in the long run. But for five years? Can you explain or help?

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