Chapter 10. Refinancing Your Mortgage
IN THIS CHAPTER
Although the traditional mortgage is for 30 years, very few last that long. Of course, mortgages are paid off when people sell their houses, but another reason for mortgages ending early is refinancing. This can be an important tool for a home owner. In this chapter you will learn about refinancing and how to evaluate whether it is right for you.
Why Refinance?
Refinancing a mortgage is simple in concept. You take out a new mortgage and use the proceeds to pay off the old one. Why would you want to do this?
Perhaps the most common motivation for mortgage refinancing is to get a better interest rate. ...
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