refinancingDefinition from Wiktionary, the free dictionary Jump to: navigation, searchVerbrefinancing
Nounrefinancing (plural refinancings)
From Wiktionary under the GNU Free Documentation License. Refinancing refers to the replacement of an existing debt obligation with a debt obligation under different terms. The most common consumer refinancing is for a home mortgage. If the replacement of debt occurs under financial distress, it is also referred to as debt restructuring. A loan (debt) can be refinanced for various reasons:
Refinancing for reasons 2, 3, and 5 is usually undertaken by borrowers who are in financial difficulty in order to reduce their monthly repayment obligations, with the penalty that they will remain in debt for years longer. In the context of personal (as opposed to corporate) finance, refinancing multiple debts makes management of the debt easier. If high-interest debt, such as credit card debt, is consolidated into the home mortgage, the borrower is able to pay off the remaining debt at mortgage rates over a longer period. For home mortgages in the United States, there may be tax advantages available with refinancing, particularly if one does not pay Alternative Minimum Tax. From Wikipedia under the
GNU Free Documentation License What is refinancing a loan and what does it do for me? Q. When I took out my car loan I had a higher interest rate because I didn't have a lot of established credit. The guy at the bank I was working with said I should consider refinancing in a few months when I had built up my credit some more. What benefits does refinancing have and when is the best time to do it? Asked by Emily - Fri Dec 4 15:30:21 2009 - - 2 Answers - 0 Comments A. Auto finance is what I do for a living and while Jake is technically correct the real truth is bankers and sales people will say just about anything to make a sale and the truth is even after you have made say 12-payments as agreed the bank that your already financed with has no reason to lower your interest rate they already have a signed legal contract. So if your not upside down in your loan (owe more then the car is worth) what you will have to do is find another bank or credit union to get a better loan and lower your payments. Answered by unknown - Fri Dec 4 15:43:39 2009 Can I lower the interest rate on my mortgage without refinancing? Q. I am considering refinancing, but I am not really too sure yet. Is there any way that I could call my current lender and just negotiate a lower interest rate with them? This way I could possibly avoid all of the closing costs, etc that are associated with refinancing. Has anyone had any luck with this? Asked by suttonsigep - Fri Feb 8 14:11:13 2008 - - 13 Answers - 0 Comments A. ummm...im going to go with NO WAY! Answered by Johnny A - Fri Feb 8 14:14:49 2008 What's the best way to go about refinancing your home if you've refinance before two years ago. I am on a adju
Q. I am on a adjustable rate mortgage and would like to go to a fixed mortgage with lower rate? I don't know who to go to for the refinancing, My Bank or credit union? Asked by dlachel392005 - Wed Aug 1 17:46:36 2007 - - 3 Answers - 0 Comments A. Actually, either one will work. What you need to do is pay attention to what you actually want - but also use the knowledge of your banking professional. SOOO often I get people that just call and say "what is your rate?" and they assume that the lowest number wins. This is a very poor way to do it. You need to sit down and look at your goals and see how long you want to stay in your home. Now, for an example of what rates and fees do for you - If you stay at your home for 2 years, you don't need to pay as much attention to the rate as you would think. If you pay a point or two to get a great rate, you may never see the return on your investment. In reverse, if you stay at the home for 7 years and say "I want no costs", you will pay… [cont.] Answered by myfastsubaru - Wed Aug 1 17:59:55 2007 From Yahoo Answer Search: "refinancing" From Wikiquote under the GNU Free Documentation License.
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 newsquench.com Thu, 02 Sep 2010 00:22:26 GMT+00:00 rates fall while applications remain relatively simple News Quench Recent car buyers may be able to save money by refinancing their loans. Rates for auto loans have significantly decreased over the past year, and with auto ... Refinancing auto loan is easy, cheap News Sentinel  automotiveworld.com Thu, 02 Sep 2010 09:58:07 GMT+00:00 Automotive World Continental has announced it is planning to issue a further benchmark bond as part of its refinancing strategy. The company has mandated a bank consortium, ...  bendbulletin.com Thu, 02 Sep 2010 11:04:52 GMT+00:00 Bend Bulletin Oregon Housing and Community Services has put out a request for proposals to find a group to manage a pilot program that would refinance underwater homes ... From Google News Search: "refinancing"  strategyofbusiness.com 839px x 1050px | 428.60kB [source page] From Yahoo Image Search: "refinancing"  refinancing2ndmortgage.blogsml.com admin Wed, 01 Sep 2010 12:28:10 GM When shopping for a debt consolidation loan (or for other reasons), there are a myriad of options available to a potential borrower. If you currently own a. From Google Blog Search: "refinancing"  fr.video.yahoo.com Tue, 31 Aug 2010 16:40:07 PDT ga-refinance.us its important to know about GA mortgage refinance, GA refinance, refinance home equity, bad credit refinance, mortgage refinance ... fr.video.yahoo.com.  necn.com Tue, 15 Sep 2009 01:00:35 PDT (NECN) - To refinance or not to refinance? With so much instability in the market and with rates dropping, what is a homeowner to do? Certified ... necn.com. From Google Video Search: "refinancing" |
