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Watch out when you refinance your home. It may be regressive towards your needs. A few people in CT and Mass tried it for a lower interest rate with a lower mortgage and it actually brought up the mortgage. I own a home in CT and I pay $349 a month just in property taxes. When the value of my house declines property taxes stay the same. The taxes are high because the value of homes in my area fall below the state median. If the house values went up the taxes would fall. Sucks, and I cant sell cuz the foreclosure rate in my state and New England is so high, its also bringing property values down. Even the rich suffer esp in the Hamptons in NY where 120 houses are listed as foreclosures, 90% of which are valued at $1 million +
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