<prompt> Human: We are first time home owners and have lately been receiving a lot of calls and mail to refinance our mortgage. Currently at 4.5 and from the sounds of it would only pay 200 in taxes to refinance to 3.9. We also skip payment for one month which would be good to get an extra project done. Sound to good to be true. What should we be looking out for? Thanks  <response>: Theyll give you a new 30 year note so now it will be another 8 months until you pay off your house. You might have to also pay for an appraisal.Taking half a percent off with very little closing costs does seem like a good deal. Beware of bait and switch tactics. Also if those rates really are available you can likely find them elsewhere besides scammy mailers. 