Q&A: Can I refinance my mortgage for half the price?

by stirwise

Question by starman45: Can I refinance my mortgage for half the price?
Let’s assume my mortgage payoff is $ 100,000, Now let’s assume I inherited $ 50,000, Can I put this $ 50,000 towards the payoff of my house and refinance it for the remaining $ 50,000?, Goal is to get the monthly payment lower?

Best answer:

Answer by Landlord
Yes, you would be able to do this, it would be a good idea.

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