Are Home Owners Throwing Away $11,500

Are Home Owners Throwing Away $11,500
Here’s why some homeowners throw away $11,500 a year on mortgage payments. 

About 20 percent of households who would benefit from refinancing are not doing it — and they could be losing out on lessening their mortgage payments by thousands of dollars over the life of the loan, according to a new report from the NBER. In analyzing a large random sample of outstanding mortgages from December 2010, researchers found that the median household could save $160 per month over the remaining life of the loan, amounting to a total savings of about $11,500. See more