I've been making extra payments on my mortgage, and because of that, I have 15 years remaining. The interest I will pay on this loan is $74k over the life of the loan. I could refinance to a 15 year mortgage and the interest I would pay on that loan goes down to $44k. However my monthly payment would be about the same. Obviously I'm paying more in interest now, but is it even worth refinancing if I'm paying out the same amount over the next 15 years?
Read more: Refinance or Keep Making Extra Payments?
