Your friend was able to get a real good deal when he went to refinance his mortgage. You know of others that came out better, too - but for some reason you have not yet tried to get your own mortgage refinancing. Well, the truth is, finding out about your own prospects of getting a better situation are only a few minutes away. In this article you will find a few pros and cons about it that should enable you to make up your own mind as to whether mortgage refinancing is for you.

Let's look at a few of the pro reasons first. By refinancing you could...

Get A Better Loan

It is possible that you may have purchased your home with a hybrid loan, or a variable interest rate mortgage. At the time, you were really excited because it enabled you to get the house you really wanted, and it gave you good low payments. But soon, you will either have to pay it off, or go to much higher payments. Recently, Martin Crutsinger, Economic Writer for the Associated Press (March 24, 2006) reported that