Refi and Home Finance

I suppose you could say that we are a very typical American family. We are what I guess would be right in the middle of what they call middle class. And we totally fill the demographic definition too. There are the two of us, two children, one dog, one cat and a few goldfish. We live in a three bedroom two bathroom house with a two car garage. Our vehicles are not flashy as one is a Dodge Neon and the other is (of course) a mini van.

We were doing alright financially though. We try to cut our costs as much as possible. We don’t go out to eat hardly ever. And we try to plan for the future by always having a little money set aside just in case. We also invested as much as we comfortably could in the stock market.

Well the stock market crashed. And then my hours got cut back at work. We were having trouble paying our bills! That’s when we looked into refinancing our home. Interest rates were a lot higher when we bought our place. Plus, since we have owned it for ten years, we have paid off a big part of it. This refinancing strategy lowered our monthly house payments significantly. Now we are no longer having trouble paying our bills.