Mortgage Refinancing
/ˈmɔːrɡɪdʒ riːˈfaɪnænsɪŋ/
Definitions
- (n.) The process of replacing an existing mortgage with a new loan under different terms, often to secure better interest rates or modify payment schedules.
Mortgage refinancing allowed her to lower her monthly payments significantly.
Related terms
See also
Commentary
Mortgage refinancing frequently involves legal review of loan documents to ensure compliance and favorable terms.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.