I will be signing our refinance on our mortgage Monday. We will be saving 2% with a fixed rate of 4.875% and only had to pay for the $350 appraisal and bring $225 to closing instead of making a full house payment for September. Who would have thought that someone in Chapter 13 payments and with credit scores of 605 & 619 (TransUnion) could refinance? We've cut 5 yrs. off the term of the remaining loan and went with a 20 yr. mortgage. Even with me quitting work next spring, mostly due to my health, we can still payoff easily in 15 yrs. and more than likely 12 yrs. If I take what I was paying for fuel each week in my truck $70 and the $43 a week for the court that came out of his check and applying it to the loan, we can pay off the loan in about 11 yrs.
Now....if I can just find my inner MaryAnn and make those extra principal payments work like they should, I'll have it whipped out in no time flat.