Photo (c) Getty Images – Indysystem

If you’re like me, emails, ads, direct mail, and social media posts that refer to terms like interest, finance, mortgages, and rates tend to overtake you. And if you’re not like me, great! I’m talking, of course, about mortgage refinancing.

I feel like I’m a reasonably smart person, but when it comes to this life event I just skipped it all because it seemed so complicated. Between having a full-time job, raising two young children and a disobedient beagle, coaching a Little League team and other responsibilities, I just didn’t feel like I had the time or the patience to think to something that seemed as intimidating as mortgage refinancing. . It would surely be super complicated and time consuming!

But postponing to another day is a very bad idea – we are currently experiencing some of the lowest rates in history. It finally struck me when I recently created a mortgage related email for ConsumerAffairs: There will probably never be a better time (than ever) to refinance a mortgage.

I thought, “Yeah, okay, this is clearly a good time to refinance, but should we?” What would that solve? We could either save a lot of money on our monthly mortgage payments or withdraw money to finance much-needed home improvements. It was the cheapest way to borrow money.

So here’s what my wife and I did.

  1. We used ConsumerAffairs to find the right lender for our needs. Working here I knew firsthand that it would be a good place to start my research because we have real experts who researched and selected great lenders. It really took worry and stress out of the equation.
  2. The lender contacted us and we chatted for about 15 minutes.
  3. We came to an agreement and I went to a local office here in Austin to sign some papers.
  4. We went from a 30-year fixed rate loan to a 15-year fixed rate loan.
  5. We blocked a rate of 2.625% (we couldn’t get such a good rate on a 30 year loan while taking the money).
  6. We took out the money pay for some home improvements, including a kitchen remodel (and maybe more).

I’m not exaggerating when I say it was super easy.

If you’re interested in refinancing and want more information, here are some great resources the experts at ConsumerAffairs have written on the subject:

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