Jim and Reba thought that a refinance was impossible for them.  They hated their 6.50% mortgage, but they were underwater and had been turned down by the mortgage company that serviced their loan.   We told them about the HARP 2.0 program, and they applied through Quicken.  They were accepted, and they just signed for 3.99% with about $2800 in closing costs.  They are thrilled.

They knew their original debt-free date was guaranteed, but now it has improved and the guarantee still stands.  They are going to keep the payment going into the plan the same, even though the new mortgage payment is nearly $400/month less than the old one.

They were also able to skip 2 mortgage payments, which for them means a total of $2500.   Before enrolling in the plan, they might have blown this money, and not been able to account for it.  But now, thanks to their enrollment with NINE YEAR Mortgage, they are more disciplined, so they are using $500 and putting $2000 into emergency savings.  They never had any such account before.

This refinance allows their debt-free date to move forward by 10 months, and for them, those are 10 more months of retirement they can enjoy, because they were going to be in debt and forced to work until they were age 68 and 69.  They are very excited to find new ways to improve the performance of their plan.