Refinancing
/rɪˈfaɪnænsɪŋ/
Definitions
- (n.) The process of replacing an existing loan with a new loan under different terms, often to obtain better rates or conditions.
The homeowner sought refinancing to reduce the interest rate on her mortgage.
Forms
- refinance
- refinances
- refinanced
Related terms
See also
Commentary
Refinancing typically involves negotiation of new loan terms and can affect the legal obligations of the borrower and lender.
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.