Sometimes it doesn’t make sense to refinance. For example, say that you will be paying 2 points on $115,000 ($2,300) and total closing costs are around $5,000. You may be considering paying this to get some temporary relief in your monthly budget. So, [tag]paying points[/tag] when you plan to be out of the house in a year raises the effective rate on your [tag]mortgage interest[/tag] to over what you’re paying today.The points aren’t spread out over 30 years, they’re spread out over one year. Retire On the House: Using Real Estate To Secure Your Retirement

click here for article