Meaning Of Refinancing

In other words, they are mortgages that you take out on top of the main mortgage you have on your home. This makes them second liens against your property and therefore more risky. A cash-out refinance is not a second loan; it is a new first mortgage.

 · refinancing simply means you are taking you existing mortgage, and you are replacing it or paying it off with a new mortgage. That’s all. I know it sounds complicated but it really isn’t.

As for fears of what a future recession could mean for refinancing the bonds, Nees said the Federal Reserve’s inclination to lower interest rates after a recession would mean even more savings for the.