Here is hte bigger question... is her income from social security and business income enough to retire on?
If not, then what is your strategy, or her strategy to generate extra income. Right now...she will get a rate of about the same. Her Heloc should be adjusting down wit hteh fed cuts. if not contact the bank find out whats going on.
As far as refi... i doubt she will get a lower rate on a 30 year mtg.... can she swing a 15 year payment? Also keep in mind, the cost of hte refinance itself.
My biggest question as a planner is will she have enough to retire on and pay it off? And if not... may be time to start thinking of using that equity to fund her retirement plan.
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