Money you may not want to spend!

Is refinancing affordable for you?  Do you need cash? If you need cash to pay off some high interest credit cards and there is enough equity in your home to pay those off,  plus the closing costs, then you might want to refinance.  However there are a lot of if's that come with refinancing. 

First of all you will need to have good credit.  If you have medical collections or liens, or lates, especially on your mortgage, the lender will probably deny the loan.  Having a good explanation for your medical collections will help.  The underwriter may require those to paid up before they can refinance. 
A new appraisal will be done and if there is enough equity in your home to pay off credit cards plus closing costs then the lender might consider refinancing for you.  Each time something is done it is an expense to you--not the lender.  With the housing markets declining in value it might be hard to show that there is enough equity in your home.  You will need at least 20% equity.  That is closing expenses plus the loan amount.  This is happening all over the country.

              Beautiful flowers are not always cheap!

A title company will need to close the loan.  Title companies may not give you a reissue rate if the loan is more than 3 years old.  However sometimes the lender can ask for a bundled rate and that can be cheaper than the regular reissue rate.  Always ask.  Remember title companies are not cheap either.  Title insurance will be required.

You will need to show that your bank account has at least three months of reserve money for your property tax and your home owners insurance.  I am amazed on how many people do not know what their home owners insurance costs per year.  You can call your home insurance agent and they will tell you the amount  you pay yearly. Be sure you have enough coverage.
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