Financial Planning Advices » Financial Terminology » What is Refinance?
What is Refinance?
When you no longer consider the terms of your loan favorable and you have found a better alternative with which to replace it you are refinancing (commonly referred to as restructure). This means that you are taking one loan with (presumably) more advantageous terms to pay down the loan you currently hold.
Cash out refinancing represents the act of taking a new loan that is of higher amount than the balance of the current loan so that equity out of an asset is taken out.
Article Tools
| Rate this article : Low | High |
Bookmark this page (CTRL+D) : 
- What is an Annuity Contract Owner?
- What is an Annuitant?
- What is a Mortgage?
- What is Short Sale?
- What is an Underwriting Fee?
- What is Prepaid Interest?
- What are Discount Points?
- What is an Origination Fee?
- What is an Assumable Mortgage?
- What is an Appraisal Fee?
- What is a Share Savings Account?
- What is Prepayment Penalty?
- What is Microlending?
- What is Negative Amortization?
- What is Amortization?
- What is Refinance?
- What is a Variable Interest Rate?
- What is Universal Default?
- What is a Revolving Credit?
- What is a Periodic Rate?
- What is an Over-the-Limit Fee?
- What is a Nonrevolving Credit?
- What is a Minimum Payment?
- What is a Late Fee?
- What is an Introductory Rate?
- What is a Grace Period?
- What is Finance Charge?
- What is Credit Utilization?
- What is a Credit Score?
- What is a Credit Report?
- What is Credit Limit?
- What is a Credit Inquiry?
- What is a Credit Bureau?
- What is Cash Advance?
- What is a Billing Cycle?
- What is Balance Transfer?
- What is Average Daily Balance?
- What is Annual Percentage Rate (APR)?
- Credit Card Basic Terms