If you are overwhelmed with debt; your monthly mortgage payments seem to increase each year, or you’re just having trouble making ends meet—refinancing your mortgage may be for you.

There are two good reasons why this is a great time to refinance: interest rates have generally been dropping.  Additionally, President Obama’s administration is pushing lenders to help citizens refinance their bad loans, particularly those with adjustable-rate interest.

Now more than ever, there are two good reasons to refinance.  First, include people who have an adjustable rate mortgage (ARM) and are faced with continual interest rate increases.  These people can refinance to obtain a fixed-rate mortgage, thus avoiding rising monthly payments.  A second opportunity exists for people who currently have fixed-rate mortgages: they can refinance if they can find (and lock in) a lower interest rate.

If you’re interested in refinancing, the first order of business is to figure out the costs.  Remember that there are multiple fees involved—including points, application fees, recording fees, and title search and PMI fees.  Most likely, there will be additional survey and appraisal charges, called “closing costs.”

If you do decide to refinance, always make sure that you will be saving enough money to cover the cost of refinancing.  This means, in general, don’t refinance if you are planning on moving within 5 years: it usually takes longer than that to recoup the costs associated with refinancing.

Remember that the decision to refinance your home’s mortgage is not a small one.  Do your research; examine all options—and don’t be afraid to ask for advice.  However, if mortgage refinancing is for you—and as you can already see, there are many instances when it makes sense—it can be one of the greatest decisions of your life.  You can help yourself out of debt, lower your monthly payments—and make yourself, overall, just a happier person!

Although there has probably never been a better time to refinance, refinancing can still be a confusing process.  Thankfully, there are now several free online resources that put you in touch with lenders.

One of these resources is LowerMyBills.com.  This online resource makes shopping for a home refinance loan easy.  You just fill out a straightforward, quick online form that then connects you with multiple lenders.  There is no credit check for applying, and absolutely no obligation.  Also, the company partners with the country’s top banks, brokers and mortgage lenders—meaning you don’t have to worry about shopping around endlessly.

So if you believe that loan refinancing is for you—and want to have lenders compete for you—be sure to visit LowerMyBills.com today.