065. Refinancing to a 15-year Loan is Taking Trend

http://residerealestate.com Today, I want to talk to you about a trend that was reported in the New York Times recently about Refinancing into Shorter Loans and their saying homeowners are starting to do that and it is becoming more of a trend.

What we're seeing with refinancing is people are refinancing into a 15-year loan. So, what that means is less time to pay-off their home; it's going to be higher monthly payments but a lot more of your monthly payment is actually going to go towards the principal on the loan rather than the interest.

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