Solution: By applying the "Smart Money Mortgage" Ashford advised that with no prepayment penalty clause why not simply prepay the existing 30 year fixed as a 15 year note? Ashford knew that by prepaying the note you effectively reduce the APR on a loan and lower the effective rate. After doing the math, the calculated rate was exactly the same as if they had done the refinance! But at a savings of several thousand dollars in closing costs! Smart!

Conclusion: Geri and Malcolm were thrilled and impressed that Ashford took the time to analyze this as a "make sense scenario" and was concerned more for the financial well being of a future client rather than sell a mortgage for a one time profit.