Verbrefinancing
NounSingular refinancing Plural refinancings refinancing (plural refinancings)
From Wiktionary under the GNU Free Documentation License. Refinancing refers to the replacement of an existing debt obligation with a debt obligation bearing different terms. The most common consumer refinancing is for a home mortgage. AdvantagesRefinancing may be undertaken to reduce interest rate/interest costs (by refinancing at a lower rate), to extend the repayment time, to pay off other debt(s), to reduce one's periodic payment obligations (sometimes by taking a longer-term loan), to reduce or alter risk (such as by refinancing from a variable-rate to a fixed-rate loan), and/or to raise cash for investment, consumption, or the payment of a dividend. In essence, refinancing can alter the monthly payments owed on the loan either by changing the loan's interest rate, or by altering the term to maturity of the loan. More favourable lending conditions may reduce overall borrowing costs. Refinancing is used in most cases to improve overall cash flow. Another use of refinancing is to reduce the risk associated with an existing loan. Interest rates on adjustable-rate loans and mortgages shift up and down based on the movements of the various indices used to calculate them. By refinancing an adjustable-rate mortgage into a fixed-rate one, the risk of interest rates increasing dramatically is removed, thus ensuring a steady interest rate over time. This flexibility comes at a price as lenders typically charge a risk premium for fixed rate loans. In the context of personal (as opposed to corporate) finance, refinancing a loan or a series of debts can assist in paying off high-interest debt such as credit card debt, with lower-interest debt such as that of a fixed-rate home mortgage. This can allow a lender to reduce borrowing costs by more closely aligning the cost of borrowing with the general creditworthiness and collateral security available from the borrower. For home mortgages, in the United States, there may be certain tax advantages available with refinancing, particularly if one does not pay Alternative Minimum Tax. From Wikipedia under the
GNU Free Documentation License How do I go about refinancing my home? Q. My husband and I both got 10% cut in pay and he was cut down to 32 hours a week, I work full time but 1 wk it is 3 - 12 hour shift and next week is 4 - 12 hour shift so I really don't have 40 hours each week. Our bills are going higher and our pay is not. Would refinancing help us? Do not know how to go about it. Asked by familyfun68 - Fri Apr 3 13:55:27 2009 - - 2 Answers - 0 Comments Do different banks go by their own Parameters when considering refinancing a loan for a house? Q. BofA told us that their parameters changed and went lower and therefore we do not qualify to refinance. Do different companies/mtg lenders go by their own Parameters when considering clients/customers for refinancing? Or is it all the same for lien holders? Asked by lady_bella - Thu Jul 10 22:07:59 2008 - - 6 Answers - 0 Comments A. Each lender is responsible for their own warehouse line (a line of credit that pools together lots of mortgage loans). If a loan doesn't get bought by Fannie or Freddie, the bank is STUCK with your loan on their warehouse line... THEY won't do it! This is the exact reason to use a mortgage broker rather than a banker. Brokers can SHOP your loan to different lenders. ALSO, a broker that knows how to package a loan will be able to show compensating factors to get a loan done that might not have a picture perfect borrower. So, your situation doesn't fit their parameters... get qualified with a broker who knows what he is doing! Best of luck! Answered by David Beasley - Thu Jul 10 22:45:51 2008 Is there a difference between Refinancing and Streamline Refinancing?
Q. I bought my home in So Cal in July 2008. I currently have a rate of 6.25%. I keep getting letters saying that because the rates have dropped into the 5% range I can reduce it. Some letters state refinance and others say streamline with no closing costs. Can someone please explain the difference and the costs associated with refinancing? Any help/advice is greatly appreciated! Thanks This is an FHA loan. Asked by cbr600girl - Wed Feb 4 11:46:22 2009 - - 5 Answers - 0 Comments A. A streamline essentially requires less documentation. There are various forms of streamlines. As mentioned, FHA/VA streamlines are very popular, and pretty simple to do. Some companies will also offer streamline products to current customers. Wells Fargo for example has a Wells to Wells Streamline. If you have a Wells Fargo loan that is Freddie Mac serviced, you qualify for a loan with no income or asset documentation, along with reduced underwriting and processing fees. If you've got an FHA/VA loan, a streamline would be a nice option for you. If you've got a different kind of loan, it's best to check with your current lender to see if they've got any programs for you. I always tell my clients to get 3 quotes on similar loan… [cont.] Answered by itsmetibbs - Wed Feb 4 12:45:25 2009 From Yahoo Answer Search: "refinancing"
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 news.google.com Newsweek Bank of America is refinancing this amazing new building in the Manhattan skyline, but whether we like it or not, we're major investors in Bank of America. ... and more » news.google.com Wall Street Journal LONDON -- Setanta Sports Holdings Ltd.'s board is holding further talks to refinance the business and prevent the privately held sports ... Setanta in battle for extra time over refinancing deal Daily Mail Setanta in emergency refinancing talks Sportbusiness.com Setanta gets extra time to settle refinancing Indiantelevision.com Reuters India - guardian.co.uk - Wall Street Journal all 627 news articles » news.google.com Prfire (press release) With some 60 billion of corporate debt needing refinancing in 2009 and 2010 alone, Pinsent Masons is warning that many may not get the finance they need to ... and more » From Google News Search: "refinancing"  mmresourcesunlimited.com 200px x 300px | 43.40kB [source page] Mortgage Refinancing  localwin.com 332px x 500px | 22.10kB [source page] What Is Refinancing All About Refinancing your mortgage simply means obtaining a new secured loan in order to pay off your original mortgage sum against the same assets Home refinancing  e-z-mortgage-refinancing.com 108px x 230px | 19.80kB [source page] At easy mortgage refinancing our goal is to provide you the most c omprehensive mortgage refinancing i nformation available From Yahoo Image Search: "refinancing"  purnama-yasa.blogspot.com rai Sat, 27 Jun 2009 22:57:00 GM Before planning to take a mortgage . refinancing. loan be careful while doing online research, compare the interest rates and tenures of different lenders, and analyze the best option suitable for you. While taking second loan, ...  wacypaaxii.org admin Sat, 27 Jun 2009 06:48:10 GM Do you like to learn about new and interesting things? If so, then this article will be right up your alley! . Refinancing. both your first and jiffy.  biblemoneymatters.com Peter Wed, 20 May 2009 13:07:56 GM Last month after reading up on the Obama Administration's new Making Home Affordable . refinance. program, I decided to look into it for our household. We're. From Google Blog Search: "refinancing" |
