7 good reasons for a mortgage refinance
Consolidate two mortgages
Some homeowners want to combine their first mortgage with the home equity line of credit.
"I'm seeing a lot of people, even if their rates on their home equity line of credit is 3 percent, refinancing to get rid of them," Becker says.
Why get rid of a loan with such a low rate?
"Because they're worried if five years from now, what if that rate jumps up to 12 (percent), 11 (percent), 13 percent?" Becker says.