Should You Refinance Your Mortgage? [Financial Fitness Tips]

Should You Refinance?Should you refinance your mortgage?  That’s a question a lot of people are still trying to answer right now and there is more to it than you might think.  This week, I’m featuring a few articles that will help you make the decision, if you’re still on the fence.

What about me?  Well, we haven’t refinanced yet at these crazy low rates for a few reasons.

We’re considering selling our house and haven’t made a final decision yet.  I don’t want to refinance and not be able recoup closing costs.

If we don’t sell, we need to consider the right term.  Going to a 15 year will be difficult for us.  Yes, even with the low rate (we already have a pretty darn good rate).  I’m also not interested in going to a 30 year mortgage because, well, we’ll pay more in interest over the life of the loan and I really want to be mortgage free sooner than later.

Here’s what others are saying about refinancing…

Featured – Should You Refinance Your Mortgage?

Should You Refinance? (Sound Mind Investing) – “There are a lot of retired people who are still making mortgage payments because they refinanced to get a better rate some years ago, but in the process reset their 30-year mortgage clock.”

Should You Refinance Your Home Loan… Again? (See Debt Run) - “We moved from a 5.25% APR down to a 3.375% APR, and switched from a 20 year loan to a 15 year loan.”

When to refinance your mortgage (Bankrate) – “The chance to refinance a mortgage at a lower interest rate is sure to get a homeowner’s attention. But it’s not always the right decision.”

This Week at OMD

PowerWallet Review: Free Personal Finance Software and Online Offers and Deals - If you’re looking for personal finance software, you might consider PowerWallet.  Their online software service is free and they provide budgeting and deals all in one.

10 Easy Ways to Save Money - Jocelin provides 10 easy (and creative) ways to save some extra money.  You can definitely find something here that’ll work for you.

Personal Finance

Should You Bother With A Safety Deposit Box? (Canadian Finance) – “I’m pretty sure I pay $39 a year for the privilege of having this box. From my crack research, I think I’m getting off pretty easy”

Love and Money: Financial Tips for Newlyweds (Good Financial Cents) – “There is a lot that goes into making a relationship work, and finances can often bog a couple down. That’s why it is important to be up-front about money matters.”

How Are Your New Year’s Resolutions Going? (Budgets are Sexy) – “Are you over your resolutions already, or are you nice and motivated still?”

What’s the Best Way to Pay Off Debt? (Man vs Debt) – “I bet you can see where this is going. Getting out of debt is complicated. It’s a mathematical “equation – and yet it isn’t. There are emotional variables at play!”

Entrepreneurship and Business

13 Tools to Move Your Business to the Cloud (Dough Roller) – “Today, everything from my bookkeeping to invoices to even my passwords are maintained online. I can access the data I need from anywhere, so long as I can find Wi-Fi.”

Career and Work

Let’s get to work — seven proven tips to find your dream job this year (Fox News) – “After 35 years of helping people reach career and financial goals, Crown has advised millions of people in developing a career. To get to work in 2013, here are seven proven tips to finding a dream job.”

About Jason Price

Jason Price is a family man saved by grace, passionate about faithful financial stewardship (1 Cor 4:2 NIV), soccer and the Pacific sun.