[Gerry]

HiI received an offer to refinance from mortgage company.I have a 30 year fixed mortgage that I have been paying off for 2 years now, I never miss a payment and always pay extra so they probably consider me a good customer.There are two refinancing offers:First one is for 30 years with fixed rate improved by .875% from what I currently have, which would lower the monthly payment by $345.Second option is for a 15 year mortgage with fixed rate improved by 1.12% which would increase the monthly payment by $500, this one would reduce the overall interest payment substantially.I am considering offer number one, because I would be nice to have the leeway to pay less if I ever NEEDED to pay less, but my plan would be to keep paying the amount I pay now.Does this make sense? Are the offers reasonable? Am I right that the 30 years starts over again after that refininciang?They say there are no closing costs, no application fees or appraisal costs, and they send you the documents and you sign and notarize them, no lawyer or anything.I’m not so familiar with the mortgage business, and I wonder if there are any other fees or costs that I am not considering, and also why would they extend this offer to me? Is it because they worry I would take another companies offer If they don’t?IS it possible to get them on the phone an haggle them down even lower?Thanks