Julie C. Nichols

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When should you refinance your mortgage?

Smart_spending

This decision does not need to be difficult. Here are factors to consider.

By MSN Money partner on Fri, Apr 15, 2011 11:00 AM

 My wife and I are in the process of refinancing our mortgage. We purchased our current home in 2004 and obtained a 30-year fixed-rate mortgage at 5.625%. We are refinancing the loan to another 30-year fixed-rate mortgage at 4.875%.

 I thought I'd use this opportunity to cover a number of topics when it comes to mortgages, starting with one we hear a lot: "When should I refinance my mortgage?" Post continues after video.

While there are a lot of difficult decisions to make when it comes to money, refinancing your mortgage doesn't have to be one of them. In fact, deciding whether you should refinance your home loan is generally a very simple analysis. Let's look at the five primary reasons to refinance a mortgage, and then some specific circumstance that can make the decision more difficult.
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Read the rest of the article on MSN Money: http://money.msn.com/saving-money-tips/post.aspx?post=31606245-5909-4b1e-bb65-4bdcd61bcac0