Why 20% of Households Are Throwing Away $11,500

About 20 percent of households who would benefit from refinancing are not doing itand 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 National Bureau of Economic Research. Left on the TableIn 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.

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