It depends on what your goal is.?? Do you not want a mortgage payment??? If you have other debits you can do a cash out refinance to pay off other debits that are not tax deductible and refinance into a longer term mortgage to have better monthly cash flow.??
Take a look at all your debits.
Luke
Source: http://www.zillow.com/advice-thread/Should-I-refinance-with-only-5-yrs-left-on-my-mortgage-at-4-375-for-a-lower-rate/482838/
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