Update

Well, not too much to update.

We looked into refinancing and I think we have decided against it for now. We only have 14 years left on our current mortgage and even with lowering our interest rate from 5.375% to 4.5%, our monthly payments would stay the same because we would be including our home equity loan in the refinance. This would mean dragging out the equity loan over the next 15 years, instead of having it paid off within the next 1 to 2 years. Plus, with the closing costs and other out of pocket expenses we would need to deplete our savings to almost nothing to go through with the refi.

So looks like we're going to hold off for now.

I was pleased to see that finally almost half of our mortgage payments are going toward principle.

This does leave us with the $22,000 home equity loan to deal with before we move on to saving our fully funded emergency fund. This doesn't make me happy. My oldest daughter is 12 and we need to get serious about saving for her for college! Ugh. I don't know. Every time I think I've made up my mind I start to question my decision again . . .