#### RatLabGuy

##### You look like a monkey and smell like one too

- Joined
- May 18, 2005

- Location
- Churchville, MD

that was exactly the point of my post where I showed the math.A lot of these assume he pays the "minimum" payment. @ghost said his main objective was to not extent the 7 years to pay it off. If he refi's and continues to make the same payment he currently makes...that 7 years more than likely goes down significantly irrespective of the extended "term" by jumping back in another 15/20/30yr mortgage.

Ghost would *only* come out ahead if he pays extra. And even then the amount saved is not massive, depending heavily on closing costs.