Refinancing refers to the process of reevaluating one’s borrowing status in light of changing economic conditions. Borrowers often look to refinance their mortgage loans, car loans or student loans in order to secure more advantageous loan terms and rates. Refinancing can be an excellent way to lower your monthly payment and save hundreds or even thousands of dollars over the course of your mortgage. But before making your decision, be sure to carefully weigh all costs and advantages associated with the following options. Lower Interest Rates If you’re paying a…
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