Have you always dreamed of owning your own home? Do you wish that you no longer had to pay rent to an impersonal landlord and instead pay a mortgage and build equity? Like many others in Delaware, home ownership may be one of your most important goals in life. And like many others, you may find yourself facing the real possibility of being unable to afford this step on your own.
Homeowners in Delaware may be wondering if now is the right time to refinance their houses. Interest rates hit a historic low in 2012, and the rates are still low enough to make refinancing tempting for many. However, if a person decides to refinance, there are some drawbacks worth considering.