Q&A: I have been paying down my mortgage aggressively. I want the freedom to own my home. Thoughts on this -?

by Mr. T in DC

Question by PB: I have been paying down my mortgage aggressively. I want the freedom to own my home. Thoughts on this -?
I am 42 and my husband is 46. We do not “sacrifice” but are careful. Our current outstanding mortgage is $ 160,000. We started with $ 346,000 almost 4 years ago, but have been paying it down. Our interest is 4% but it is an adjustable that may jump to 6% in April of 2009. Is there a way to refinance and lower my payments so that we may pay off our home sooner, and so that we may be able to afford college without struggling?

Best answer:

Answer by jennifer h
Talk to your Bank manager

Add your own answer in the comments!