What does it mean to refinance a mortgage?

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28th Oct 2009 by Gary

To refinance a mortgage means you're using the property from the orginal mortgage as collateral for another loan which would pay off the first mortgage, while usually getting extra cash out of it to use for whatever you want. There are closing costs just like there are when getting the first mortgage.

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27th Oct 2009 In Finance 1 Answers | 599 Views

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