Financing a home

[Chaia Zellermayer]

I am looking to rent my current home and move elsewhere.  I have a potential renter and I have 11 years left on the current mortgage. the current mortgage payments with all taxes and insurance is $826 and the renter is paying $900  Would it be smarter to refinance the property for 25-30 years to lower the mortgage payments so I can keep the $200 per month savings and take out the current equity up front?