4 Reasons to Refinance Your Home The opportunity to refinance was born out of the 2008 Housing Crisis. Rates were dropped to historical lows to combat the recession. But interest rates are about to rise again. <br />There are still 6.7 million homeowners that <br />have not yet cashed in on potential savings, according to myfinance.com Here are some <br />reasons to consider <br />refinancing your home. 1. Your financial <br />situation has changed Depending on your situation, you could either <br />lower your monthly payments or cut your <br />repayment period down significantly. 2. You have other types of debt. Refinance with a cash-out option or snag <br />a home equity loan to consolidate your payments. 3. You were affected <br />by The Housing Crash. HARP helps people with little or no equity refinance at a better rate. 4. You want to make a big <br />purchase or return to school. When it comes down to it, refinancing is better than taking out another loan at a higher interest rate.
