How Does Mortgage Refinancing Work?

Fundamental mortgage Q&A: “How does mortgage refinancing work?” When you refinance your mortgage, you essentially trade in your old loan for a fresh one with a new interest rate and mortgage term. And possibly even a new loan balance. You may elect to receive this new mortgage from the same bank (or loan servicer) that [&hellip

The post How Does Mortgage Refinancing Work? first appeared on The Truth About Mortgage.

Source: Mortgage