Q:

What does it mean when you refinance a house

Answer

Refinancing a house is discharging a mortgage with the proceeds from a new mortgage obtained at a lower interest rate. ChaCha!

Categorized In: Real Estate , Finance & Economy

Source: refinance definition | Dictionary.com | dictionary.reference.com

Description: To provide new financing or new financing for, as by discharging a mortgage with the proceeds from a new mortgage obtained at a lower interest rate.

Oct 13 2009, 09:32pm

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