My house is valued at $ 105,000, is my mortgage at 5.875% with a balance of 67,000, I have to refinance a loan on equity 31 / 2% with a balance of $ 16,500 should I?

We can all analyze it to death. There is no mathematical justification, however, that in the mortgage business since 1994, unless you are in the vicinity of 100%, that:
1) You’ll be long enough to recover the costs of closure in the form of deposits and interest in the house
2) You keep your current date and payment. This is where most people catch …. if
refinance they do not believe that the time of payment of same by either for a short-term loan or
Applying the interest savings to the capital reduction.
There are some other pretty cool strategies by which your net pay much sooner and save a TON of interest without the cost of refinancing is. (A small computer is on one of my pages for you to see how it works: www.Fip Map.com-free)
I have consulted thousands of people on mortgage financing and a better financial decision. You have already a pretty decent rate. Respect to this decision.

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