Home refinance

I would like to refinance my home to get a lower rate. Is it a good idea to include my car, so that I can save on monthly car payments as they have become a hardship? Or should I struggle along and finish the car payments as best I can?

Terry Says:  A lot depends on how much longer you have on your car loan, and on the interest rate.  Also it depends on the refi loan rate — and whether you have enough equity to withdraw to pay off the car loan in the refi process.   So start out by checking what the refi would give you and at what rate.  And here’s some general advice, if you’ve been paying on your mortgage for years, it can be tempting to stretch it out for another 30 years.  But if you’re planning to stay in your home for along time, that means you’re paying a lot more interest along the way.  So ask about a 20 year mortgage instead of a new 30year mortgage.