The thing that matters most is what will be best for you knowing that you are moving into a new house in a few years or so.

A refinance to clean up credit makes alot of sense. The new rate is actually lower then what you have now. Even though you have a 6.5%, your second mortgage can probably be in the 8% or higher range.

So, interest alone is less with the new mortgage. Also, the main thing to look at is the paying credit cards over 30 years. Read the rest of this entry »


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