Mortgage Refinance

We're refinanced! This is a big relief to have that over with. Almost two months ago, we locked in a rate of 5.375% with the bank. The banks are swamped with refinance requests, and it took them forever to get around to processing ours. Our lock-in almost expired, and I'm not sure what would have happened if it did. I'm sure we would have been a little upset. It only took us 20 minutes to go througnh all of the closing papers with the closing and titleing agent. The mortgage agent from the bank didn't even bother to show up, which was a little disconcerting. At our first closing, we had our realtor, an agent of the lender, and agent of the titleing company, and an agent from Tucker Mortgage. This time it was just the titleing agent. It felt like we could have been getting scammed, but I'm trusting that this is just the way it is supposed to go. So now we'll be saving over $200 a month on our payments. This is a big relief, especially since Jenn is thinking about not going back to work once the baby arrives. It will be nice to have a lower payment so that we have money for other things. We must carry our PMI for at least one year before we can have it removed. If we only make the required payment, it will be six years before it comes off. We have to pay down our principle by over $17,000 dollars to reach their equity limit for removing the PMI. PMI sucks. I really don't understand why we need it. I feel a little guilty about having a car and home loan right now, because we just finished reading a book for class that advocates living a debt free life. It was written by a pastor and is based on passages from the bible. I know that owning the house is not an option, but getting a loan for the car sometimes makes me feel guilty. I know that we could have bought another car with cash and not had a loan. I am really happy with the Bravada, though, and I know we are going to get a lot of good use out of it. We'll just need to pay down our debts as fast as we can.