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What's involved in swiching my mortgage to a 15 year?

Asked by syz (36034points) December 11th, 2007

I have a pretty good mortgage rate but I HATE the thought of spending so much money on interest over the life of the loan. I’ve been told that the payments don’t change that dramatically if I get a 15 year mortgage. What’s involved? Is it a basic refinance? Are there costs involved?

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