Should we re-finance?We are 5 years into a 30 year fixed at 5.5%. We still owe $240,000. The value of our home has dropped from $400,000 at purchase in 2007 to $200,000 today. We are receiving an offer of 4.25% for a new 30 year. August 13 2012 - San Diego00YesReport 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.