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What is refinancing?


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Answered 2009-02-02 09:30:07

Refinancing a loan means that you are essentially paying off your mortgage with a new loan. Refinancing is often used to change your loan from an adjustable to a fixed rate and can be a way to lower your monthly payments or take cash out of your home's equity. The process of refinancing is very similar to getting your original mortgage.

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Answered 2011-08-08 18:34:27

Paying off of an existing mortgage loan obligation by extending or renewing existing financing or taking on a new loan obligation under different terms.

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Related Questions

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Does refinancing transfer title?

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Main Refinancing Operations?

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