Should I do the refi or not?I currently have a 2 year old FHA 30 Year loan at 5.25%. Lender says i can refi to 15 year loan at 3.25% with no closing costs and a payment increase of $288.00 p/mo. on my mortgage payment. My home has decrease at least 10% since I purchased it 2 years ago. I live in Royal Oak, Michigan.August 16 2011 - Royal Oak00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.