What are the benefits of refinancing a mortgage?

Answer When a borrower refinances his mortgage, he repays the original debt with a new loan. The new loan will have a different term and rate, and sometimes, a different loan amount.SignificanceA mortgage... Read More »

Top Q&A For: What are the benefits of refinancing a mortgage

Can you refinance a primary mortgage without refinancing a second mortgage?

It is possible to refinance a primary mortgage without refinancing a second mortgage by subordinating the second mortgage. Subordinating a second mortgage means you are filing a document so that th... Read More »

What is refinancing a mortgage?

To refinance a mortgage is to replace the old mortgage debt with a new debt that pays off the old loan in full upon closing. A borrower can refinance to take advantage of lower interest rates or to... Read More »

How to Remove a Name from a Mortgage Without Refinancing?

Removing a name from a joint mortgage is most easily done by refinancing or selling the property. However, if refinancing is not possible, there are ways to remove a name from a mortgage. Since mor... Read More »

What is the difference between refinancing and a second mortgage?

When people have an existing mortgage, they sometimes choose to refinance for a lower interest rate. If people need additional cash, they may turn to a cash-out refinance or a second mortgage.Types... Read More »