[krystar]

Falling property values suck. suck ass!

i bought my place 3 years ago for 200k. put a nice 20% down on it. well the value dropped...and dropped...and dropped. now according to zillow it's valued at not even 120k. so i'm about 25k underwater. i called the bank and they said they could refinance me for a new 30yr fixed at 4.5% today with 0 cash closing costs by rolling cost into new loan.

how do i evaluate whether or not this is the best option for me? i'm still employed and making enough to pay, but it just doesn't make financial sense to keep on paying a high interest loan.

thanks brain trust