Refinance your home before it goes down in price.
You can't get cash out if your property value is falling

See Your Home Value Now
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Fill out form above to view your Current Value

The chart on the next page will show your home's value over the past year and if the trend is going up or down.

Is it really necessary to refinance ASAP to lower my payments
and get cash out?

LendingTree

Property values are falling in almost all areas. If your house doesn’t appraise at a high enough value, you won’t be able to refinance and you won’t be able to get cash out based on your equity.

Congress has just laid out a set of principles for banks to follow to help people who are having trouble making their payments. These principles include:

  1. Contacting distressed homeowners and try to work out payment arrangements
  2. To reduce monthly loan payments by changing rates or terms
  3. Providing refinancing for those who are eligible.

View your refinancing options to lower your payments
as well as get cash out.

Average Market Rates
http://www.mortgagefit.com