Amarin Corp Plc (AMRN)

[sts66]

I understand what you're saying, you just didn't use a word that would have made it clear exactly what you were talking about - if you refinance, you are building up zero equity in your house for the 1st 3-4 yrs, as the entire payment goes to interest and escrow. Depending on how long you've had the current mortgage you may be paying down principal, thereby increasing your equity, but 50% or more of the total payment each month. Adding as little as $100/mo extra also saves you thousands in interest payments over the term of the loan. I don't understand why anyone who is already retired, even if a spouse is working, would refi if they had < 5-7 yrs left on the mortgage - pay it off so you don't need to worry about paying a mortgage when you're both retired. I've been paying mine down for ten years and will be debt free at the end of the year at age 58.