Refinancing a mortgage is does not mean you will repay the debt, it is just restructures debt, sometimes at a lower interest rate than current interest rate on mortgage loan
Most of people do it to save the interest expenses & reducing the monthly installment for several years
Some people refinance to make the monthly mortgage payment more affordable. A lower interest rate and longer the term of loan both are make the lower monthly installment payments.
Most of people do it to save the interest expenses & reducing the monthly installment for several years
Some people refinance to make the monthly mortgage payment more affordable. A lower interest rate and longer the term of loan both are make the lower monthly installment payments.
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