[septogenarian]

into Fanny Mae and Freddie won't that just put people more in debt? Doesn't refinancing loans leave people with more debt in the long haul?

[good guy]

generally speaking, a refi will extend the debt time period and yes, it often is more expensive in the long run. However, by refinancing one can often lower ones monthly mortgage amount, but over a longer time period, and in reality, costing the refi-er more money.