[SauronOfMordor]

This didn't put money in our pockets. It reduced our indvidual debt to the mortgage companies.

It did in mine. The lower interest rate enabled me to change my mortgage from a 30-year to a 10-year, after increasing my monthly payments a tad. The mortgage should be paid off next year.

[Tauzero]

"The mortgage should be paid off next year."

Bravo!

[B4Ranch]

My thinking is that refinancing saves you money but it did not put cash in your pocket today. Raising your mortgage a tad took cash out today. Nezt year you will have the cash.