We never thought dh would retire before our house was paid off but that seems to be the case right now. So we've been making extra payments every month for awhile now because we really want the mortgage off our backs. Well, he called the bank and now he wants to do a refinance. So we are going down from a 30yr to a 15yr and getting 3.75%. This only knocks off $10 a month off the bill but saves us 5yrs of payments. We'll still send in extra payments though so it will be paid off sooner. We have a pretty hefty savings account but I don't want to use that money because you never know when you will need it. We'll need to redo the roof and replace our heating and cooling units soon.
It doesn't sound like a bad idea but I'm still unsure and I don't know why. I guess I like leaving things the way they are if they aren't broken, lol.