[Relsenlilky]

So, I noticed mortgage rates have once again bottomed out to a historic low. Here is my situation in a nutshell:

Overpaid for my house in 2006, currently down about 20% market price of what I paid for it. If we sold today, we would basically walk away with nothing, maybe owe realtors a little bit having lost our entire 20% down payment.

Refinanced in 2009 at 4 7/8% on a 25 year loan. (We shortened it a little from the original 30 yr loan with minimal closing costs and about the same monthly payment)
Today, have 22 years on the loan left.

So, I am thinking about whether to refi again or not. The house is not something I want to stay in forever, so I am thinking of playing the game and leverage the place up and get a cheaper monthly payment on a 30 yr loan and put about $200 of monthly savings somewhere (PMs?). On the other hand I could probably do a 20 year loan for about the same monthly payment with minimal out of pocket costs. A 15 year loan is out of the question with too high of monthly payment to live with.

Another thought is just leave well enough alone. Would LOVE not to deal with banksters and lenders ever again. When kids start heading off in 10 years (moving out, total of 4) I want to downsize to a smaller dwelling on a larger city lot (2400 sq ft current on .17 Acres to 1200 sq ft on .33 Acre in the future) and hopefully trade PM's for it so I own the smaller place out right.

I am on the left coast....land of hippies and liberals....Portland, OR.

Thoughts on how to play this game?

TIA!