Can or should we re-finance ?

[SXMGirl]

Just some info: when our mortgage was sold to BOA last year, they switched it to bi-weekly with no fee. Not sure how many companies are amenable to that in this economy, but it is easier than paying the extra principal each month. Most of us always have something else to spend that money on.

[BuffaloTransplant]

Check the mortgage papers. If there is no prepayment penalty, just make additional "payments to principal". It will be paid fast and with less interest.