How to Refinance a Home Owner's Mortgage

Shacha: When you look at a 30-year fixed amortization table, what does the first five years look like? A lot of interest. The guy who sits in it at 6% for the next 20 years will be nearly two thirds paid off while the guy who refinance it every four to five years is probably going to still owe about 80% of what he borrowed. Shacha: For any length of time is going to eventually start to lose money at a high velocity because the dollar is devaluing so fast.