[tomjohn77]

You dont get wealthier by refinancing. You just get closer to bankruptcy. There should be no need for refinancing if you are able to handle your money right.

[Jaysun]

You dont get wealthier by refinancing. You just get closer to bankruptcy. There should be no need for refinancing if you are able to handle your money right.

Yes you do. Refinancing is super idea when the goal is to reduce the interest rate. Also, it's not necessary to refinance the total value of your home, only the amount owed. I can't see why ANYONE wouldn't want to reduce their interest rate.