Refinancing allows you to pay off an old loan that is higher-priced and replace it with a new lower-priced one. While it may sound simple and easy enough, there are several factors to consider. And refinancing may not be the best answer for everyone. Let’s take a closer look.

What does refinancing mean?

What does refinancing mean?

Refinancing allows you to pay off an old loan that is higher-priced and replace it with a new lower-priced one. The refinance process is a common practice among owners of homes and vehicles. While it may sound simple and easy enough, there are several factors to consider. And refinancing may not be the best answer for everyone. Let’s take a closer look.

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