Word: tedstrom
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...depends on several factors, not least of which is the reason for doing it. "If refinancing reduces your monthly payments and frees money you can apply toward principal, thereby getting the house paid off faster, that makes sense," says Mark Brown, a certified financial planner and partner in Brown & Tedstrom Inc. in Denver. It also depends on your time horizon. Planning to stay in your house 10 years or more? Then taking the extra cash from refinancing and investing it in something that has a higher rate of return can really bolster your retirement portfolio...