Refinancing!

We're joining zillions of other people taking advantage of super-low interest rates, and refinancing our mortgage. We're going from a 30 yr mortgage @5.25% (with about 21-22 yrs left) to a 15 yr mortgage @4%, a move that will save us tens of thousands of $$$. I figure that's worth the temporary aggravation of going through this process!

I had been watching interest rates for a while, and finally decided to take the plunge a few days ago. It has been a WHIRLWIND since then, gathering about a zillion documents they need. My advice to anyone considering doing this is to gather up as many documents as you can think of AHEAD of time. They needed the last 2 years of taxes, W2's, the last 2 of: pay stubs, checking account statements, savings account statements, stocks/bonds/whatever other liquid assets you have, retirement account statements, etc., homeowners insurance statements, HOA statements, & mortgage statements. We needed to sign a bunch of disclosures, the appraiser came (had to clean the entire house), and get everything overnighted to them - all within 48 hours of when we said "go." We are by no means done, but now is the easy part - waiting for them to do their part. They said it's currently taking around 45 days.

Every bit of interest you pay is money down the drain, money that lines someone else's pockets. I'd rather keep that money for myself!