What is refinancing a house?

Answer When a borrower refinances his mortgage, he is replacing the current mortgage debt with a new loan. This is done either to reduce his interest expense or to cash out equity in the home for other us... Read More »

Top Q&A For: What is refinancing a house

Is refinancing a house tax deductible?

You can deduct the cost of discount points paid on a mortgage refinance over the life of the refinance. For example, if you pay $3,300 in points on a refinance that will take 10 years to repay, you... Read More »

What should be included in a final home appraisal when refinancing a house?

Refinancing a house requires that you exchange your current mortgage for a new loan. The new loan is used to pay off the old mortgage and replaces it in terms of monthly payments and requirements t... Read More »

What does refinancing a car mean?

Car refinancing occurs when a car owner obtains a new loan with a different bank or lender in order to pay off what they currently owe on their car. Most owners refinance their car in order to get ... Read More »

What is refinancing?

Answer 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 ... Read More »