<p>Calmom, I was merely trying to point out that one has to be careful of refinancing constantly. One could be stuck in an interest-only loan limbo. Obviously, the 75% was a generalization, and I was referring to a 30-year loan. I myself have a 10-year ;)</p>
<p>The borrower certainly has to do his own homework. And so many factors come into play, like how far into your loan-term are you, how much lower are the rates, what are the points/closing/title search costs etc. I was very fortunate to refinance with my employer, with no costs. (and I don’t mean that we refinanced the costs)</p>
<p>I have no clients, and the only finance I am involved in is my own. I am very happy with numbers, except for the number of grey hair on my head, and the number of fillings from being a chocoholic.</p>