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Refinance Your Mortgage and Save MoneyThis is a discussion on Refinance Your Mortgage and Save Money within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; With a bmortgage/b refinance, you pay off your existing bmortgage/b and take out a new bmortgage/b at a lower interest ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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10-10-2008, 02:16 AM
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Refinance Your Mortgage and Save Money
With a bmortgage/b refinance, you pay off your existing bmortgage/b and take out a new bmortgage/b at a lower interest rate. Some financial experts advise that before refinancing you make sure that the equity in your home is at least 5% of the b.../b
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10-10-2008, 02:35 AM
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| money, mortgage, refinance, save |
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