HARP loan Refi help?

[Ricky West]

Hello, My mother currently has an investment property that is financed at 6.375% she mortgaged in 2003. Now a mortgage company has reached out about Refinancing at 3.75% (4.089% APR). Supposedly this will save $17,000 over the life of the loan and the lender has mentioned escrow-ing the taxes and insurance into the payment.... Not sure what most of this means but I’m leaning on my BP community to help mother dearest. To me the numbers make sense but is the HARP a bad loan, or does anyone have advice/experience worth sharing to help my mom make the best decision? Thank you.