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1. Have your proffesionlly house appraized. It should be worth considerably more than what you paid for it.

2. Visit at least two local credit unions and ask for a refinance quote. limit yourself to ones you qualify for this may be zero depending on whenere you live.

3. Visit a big box bank. Depending on where you live, this could be Bank of America, Wachovia, or others. Ask for a refinance quote.

4. Visit a local bank. Ask for a refinance quote.

5. Check out for a quote.

Do what is best for you.

The quote should contain info such as rate, closing costs (including points), how much you are saving per month, how long it will take for your savings to make up for the closing costs, Other fees such as PMI, which hopefully you will no longer be paying.

Try to avoid taking out extra cash, unless you need it to pay down unsecured debt or debt that has a higher rate (car for example)

Good Luck, and please report back,

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