How long will it take to cover the cost of refinancing?

Question by : How long will it take to cover the cost of refinancing?
If someone was refinancing their mortgage and reducing the mortgage payments by $ 65 a month and the closing costs of refinancing will be $ 1,670, how long will it take to cover the cost of refinancing?

Best answer:

Answer by Ariaread
26 months 2 yrs, 2 months
1670 divided by 75

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