iF i STREAMLINE WILL THE TIME OF PAYOFF BE LONGER THAN ORIGINALSAY DO IT TODAY AND GET A LOWER RATE AND I WAS DUE TO GAVE PAYOFF IN 20 YEARS DOES THAT INCREASE FOR LETS SAY ANOTHER 20 YEARS?

Yes, you would be starting all over again with a new term of 20 years. Many people will continue to make the same payment as the prior mortgage (applying the payment savings to principal), and this pays off the mortgage in a much shorter period of time. It also depends on how many years you have had the current loan.

The clock restarts. I suggest reviewing an amortization schedule with your loan officer. You'll be able to see how much interest you'll pay on your current loan vs. proposed. I bet the proposed (loan amount depending) will save you more than $20,000 over the life of the loan. Guaranteed Low Price Direct Lender: www.fhahomeloanguarantee.com

Yes, when you do a refinance you start the loan all over again.

Most people make a huge mistake when refinancing - and that is that they usually go backwards to a new 30-year loan and restart the clock. This may be OK if your goal is to reduce your monthly payment to the lowest possible, and don't care about going backward. But for many people, refinancing to a lower rate AND a shorter term is the smart way to go. Popular options are going to a 20-year or 15-year loan, but you can actually select any amortization term you like between 10-years and 30-years. For example, if you only have 16-years left, and don't want to go backwards, I can give you a new 16-year. Lending in MN, WI, and SD... www.Minneapolis-Mortgage.net