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 How does refinancing a home work? Q. I have owned my home for approximately 7 years now. I am interested in refinancing but am not sure how the process works. My home needs major repairs and a possible addition to it. I have heard of refinancing with cash back but have no clue as to how that works. I would also not want my current mortgage payment to go any higher...can anyone help? Asked by mizzredd78 - Tue Sep 1 17:24:23 2009 - - 1 Answers - 0 Comments A. This is usually a bad move - the cash out part. What happens is you lose your equity. PLus, you'll likely incur costs which can't be rolled into the new loan. Your best bet is to pay cash for the repairs. Answered by John Deere 4620 - Tue Sep 1 17:31:12 2009 What's the difference between home loan modification and mortgage refinancing? Q. home loan modification vs mortgage refinancing, are they the same thing? Asked by unknown - Sun Jun 7 02:49:42 2009 - - 3 Answers - 0 Comments A. A mod will take your existing loan and make changes to it it can lower your interest rate and your payment or just lower your payment the bank will take your financial information from you and then they will determine how much you can afford to pay a month then the mortgage company will make a decision based on the information they have got from you if they will do the mod but with the new obama plan they will give you a mod for 3 months to see if you can make the new payments is you can then you get the mod if you can't then you don't and the obama plan will give you a fixed interest rate instead of an adjustable one A refinance will give you a completely new loan so you could get a lower interest rate and a new payment but if you are… [cont.] Answered by kat - Mon Jun 8 08:56:36 2009 How much does a real estate agent make from refinancing a home?
Q. I am refinancing my home through a real estate agent. Asked by Travel Boy - Fri Apr 20 15:32:42 2007 - - 8 Answers - 0 Comments A. Some states require mortgage brokers to have real estate licenses too, where as some states won't let Realtors be mortgage brokers. It sounds like you are working with a Realtor who is a mortgage broker on the side. A Realtor is not commissioned in a refinance, but if he is acting as a mortgage broker he is, and is probably making between 1.5-4% of the loan amount. Answered by linkus86 - Fri Apr 20 18:32:57 2007 From Yahoo Answer Search: "refinancing" From Wikiquote under the GNU Free Documentation License.  steelorbis.com Wed, 01 Sep 2010 12:48:41 GMT+00:00 loan facility SteelOrbis (registration) The facility, jointly led by the Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation, will refinance the remaining two ...  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, ...  imarketnews.com Fri, 03 Sep 2010 09:37:44 GMT+00:00 IMarketnews.com london (MNI) - In the wake of the European Central Bank announcement that it would keep full allotment at its refinancing operations, at least until January ... LIBOR/OIS: Euro LIBORs Little Changed, Spread Widens IMarketnews.com From Google News Search: "refinancing" 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"  moneymanagement.com.au Mon, 18 May 2009 16:25:00 PDT Funds manager Goodman Group has completed its refinancing arrangements at the same time as looking for new strategic investors. AFA Perth National ... moneymanagement.com.au.  wwlp.com Thu, 01 Jul 2010 20:54:22 PDT Good news for homeowners, who are refinancing their homes. Interest rates are at a 50-year low. They're about 4.9-percent for a 30-year fixed ... wwlp.com.  ehow.com Wed, 25 Feb 2009 17:52:08 PST "This is financial adviser Patrick Munro talking about auto refinancing pros and cons. Well when the interest rate starts to lower itself ... ehow.com. From Google Video Search: "refinancing" |
