Refinance the house

My loan was for 6.5% somewhere north of $200000. With the dismal state of the economy and all sorts of panic that the fish-wrappers are screaming about, the interest rates have dropped to 5%.

So the timing is perfect. I go to the bank and ask them to give me another 'just north of' $200000 loan, of which most will pay off the first one. The rest goes in my pocket to the tune of ~$180/month.

I've done all the due diligence and paperwork at this stage, so today is finally the day when I'll sign for my refinance and will walk away a richer (or less poor) man.

Life is good.



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