Wednesday, January 23rd 2019


Refinancing what is it?

Interesting Question?   (7)   (7)

Answers (2)

11th Nov 2009 by Burt Carlson

Refinancing is paying off your current loan by doing a new loan with either your current lender or a different lender. You would want to refinance to lower your payment, lower your rate, shorten the term of your loan (say from 30 years to 15) or get cash to spend as you see fit. Remember that your refinance will likely add the closing costs of the loan to your balance (unless you want to pay cash for the costs which I typically do not recommend). My advice is before considering refinancing be clear on what your goals are and talk to as mortgage professional.

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of
28th Oct 2009 by Gary

Refinancing is taking out a new loan on your home in order to pay off the existing one. Other benefits are you can take out a larger loan if your home has risen in value in order to use the extra cash for whatever you want to. The cash from the loan isn't taxable either, giving you an added advantage and benefit from refinancing.

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of

27th Oct 2009 In Finance 2 Answers | 2060 Views
Subjects: refinancing,

Answer This Question / Give Your Opinion
Refinancing what is it?

Answer: *

What country is this answer relevent to? *
Your Name: *

Enter Verification Number: *

Give Your Opinion
What is nnn lease?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
What is nnn lease?
Unanswered Questions in Finance
What is charged off debt?
What is interest rate financing?
What are different types of business loans?
What happens if i dont pay my payday loans?
What is title ii funding?

Answered Questions in Finance
What are refinancing rates?
What are finance receivables?
What is homepath renovation mortgage financing?
How much mortgage can i afford?
What debt to pay first?
Ask A Question
Get opinions on what you want to know:
Specific to any country?