In this eye-opening episode, mortgage veteran Ella Gurfinkel reveals the critical refinancing details that most lenders never explain. With over 30 years of experience and more than 2,000 families served, Ella breaks down exactly what happens when you refinance and why misunderstanding this process could cost you tens of thousands of dollars.

What You'll Learn:

• Why refinancing isn't just "changing your interest rate" but getting a completely new loan
• The shocking truth about restarting your 30-year term when you're already 5 years into your mortgage
• How extending your loan term by just 5 years could cost you an additional $50,000 in interest
• What really happens to your escrow account during refinancing (and why that refund check is legitimate)
• The truth about "skipping a payment" during refinancing and how interest is actually calculated
• Why your new loan amount might be higher than your current balance even with a lower rate
• How to properly evaluate whether refinancing aligns with your long-term financial goals
• Options for handling escrow funds during the refinancing process
• Why the timing of your first payment after refinancing creates the illusion of skipping a payment

Join Ella as she demystifies the refinancing process, providing clear, honest guidance that cuts through industry jargon and reveals the financial implications that most homeowners never consider before signing their refinancing documents.

Whether you're considering refinancing to lower your rate, change your term, or access equity, this conversation offers essential knowledge that can help you make an informed decision and potentially save thousands of dollars over the life of your loan.