Refinacing?
#2
Suzuka Master
let's say you currently have a loan on something (a car, motorcycle, house etc). Well, you find a better rate with another Bank or even the same Bank. You apply for that loan and that loan pays off your previous loan. You have just refinanced.
#3
Senior Moderator
I had a 30 year mortgage in 2001 for 7.125%, and [i]refinanced]/i] to a 20 year at 6% in 2003....
Most people have refin'd their house mortgages lately because mortgage rates have been low.
#5
Originally Posted by dnd2984
OK heres the case. My dad is refinacing a property so he can get a loan to buy another one. So the one he refinanes on will be own by the bank then?
#6
Team Owner
Originally Posted by dnd2984
OK heres the case. My dad is refinacing a property so he can get a loan to buy another one. So the one he refinanes on will be own by the bank then?
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