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What is a refinance loan?
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28th Oct 2009 by Gary
A refinance loan is a loan you get when you want to raise some cash based on the existing collateral and how much you owe on the existing loan and what the collateral is worth. The difference is how much cash you can raise.
When refinancing a home, you're raising cash from the difference between the value of the property and what you can get after you pay off the existing loan. The great thing is money from the loan isn't taxable.
A refinance loan is a loan you get when you want to raise some cash based on the existing collateral and how much you owe on the existing loan and what the collateral is worth. The difference is how much cash you can raise.
When refinancing a home, you're raising cash from the difference between the value of the property and what you can get after you pay off the existing loan. The great thing is money from the loan isn't taxable.
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27th Oct 2009 In Finance
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