[quote=flu]For example, if refinancing puts $20000 cash in your wallet via rebate today but adds $24000 additional interest over the life of your loan (30 years)…It still might be worth it since the $20k today most likely will be worth a hell of a lot more than $24000 spread over 30 years (with the ever inflating dollar)… It would be your call…whether you value having $20k now ,or rather save $24k over 30 years.[/quote]I would avoid the cash out/cash back refi. It allows the finance companies to bump the interest rate up by about 0.5%. There was a copy of the rate sheet for Countrywide out somewhere. I don’t have time to look for it right now.
