When
an owner obtains a new first mortgage on his real
estate, the homeowner has undergone a home refinancing.
Simply, home refinancing is trading
an old mortgage for a new mortgage.
When refinancing your home, it's helpful to know
a few things about refinancing. When you refinance,
you usually pay off the old loan and sign for a new
loan, whether you are refinancing your 1st mortgage,
second mortgage or home equity loan. The expense
that comes in to play when refinancing are the new
closing costs and points charge for getting a new
loan.
