Refinancing Mortgages happen when you take a secured loan in order to pay off another different loan secured against the same assets, property etc. If this original loan was a fixed interest rate mortgage the outstanding debt on which has now declined considerably, then you may like to avail of a new loan at a more favorable interest rate. Typically home refinancing is done when you have a mortgage on your home and apply for a second loan to pay off the first one. While taking the decision to go...
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