<prompt> Human: So my father is 70 years old, and is living on a fixed income retirement from Att. He has almost no background in money management, as my mom handled all that when she was around.He is attempting to refinance his home equity loan from 5 to 4 and consolidate three other high interest credit card loans down to the 4 rate as well. This is pretty much all the information he was able to give me. I believe he heard all the good sounding information and just told the guy yeah, that he would be in tomorrow. So I guess my question is: What can I tell him to look for, any potential fuckery on the banks part, anything that could potentially hurt him in the end. I wish I could be of more help to him, but Im just a dirty anarchist who doesnt use banks, has never really paid attention to any relevant info. My antennas just went up when my dad was saying that he wasnt worried about anything bad happening, because BBVA Compass was a good bank, and Paul was his friend that would only do whats best for him.Thanks!  <response>: To me the question is, after closing costs and everything will he really be saving any money? Is a 1 improvement worth it? You can find plenty of other posts where this was discussed in rpersonalfinance. If you get some specific numbers and want to run them by us, just come on back and Im sure youll get plenty of more specific answers. 