[kearnyirish2]

I’m glad that worked out.

I refinanced a few years back (didn’t get the best rate, but worked it out so it was truly “free” - got a better - not the best - rate but paid $0 to do it).

At this point another 30 year loan would have me working past 70 to pay it off; a 15- or 20- year, maybe; not a 30 year.

[trebb]

We're just rolling the fees and the new escrow into the loan and will get an escrow refund from the old account 30 days after we close....wife is 70 and I'm 68 so we won't pay off the 30 year loan - grand-kids can sell it and make a handy profit because it's currently worth 2-1/2 times the loan (sold a house with a lot of land and put a big chunk down - which made it easy for bank to grant the first loan).

Wife was talking about making extra payments to pay it down and I told her that at our age, we need to enjoy the money we have and too bad if it lessens what the grand-kids get after we're gone - they will still get something worth getting.

[SamAdams76]

At this point another 30 year loan would have me working past 70 to pay it off; a 15- or 20- year, maybe; not a 30 year.

Even with a 30-year mortgage, the term is really up to you.

By making extra payments, you can knock the term down by years and years.