He doesn’t need to provide any of his financial information. I could care less. But I would hope at least he goes through the financial exercise and also thinks about opportunity cost he could be giving up.

If his current loan is .5% or higher than what he could get right now via refinancing, to me refinancing seems like a much better option because you can lower your monthly payment and also save on interest… After a refinance , he could still make the same monthly payment on his new loan so that more of it goes toward principle upfront, over time he could bring in the loan a few years….BUT if the shit hits the fan, he can revert back to the new lower monthly payment if there is a cash crunch. That’s how I essentially brought my 30 year into a 15 year and paid it off in 10. I was making roughly the same mortgage payments all along, and any extra windfall went directly to the principal. I didn’t like the opportunity cost of trading off safety for of no mortgage versus putting everything into a higher return investment back then. Well, funny how quickly that changes.

If you believe 3 months from now your financial situation would significantly change, and you can get into a lower rate loan now, I’d rush to get that done as soon as I could.

You can’t get a new loan or refinance once you are unemployed or significantly furlowed.