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Process of refinancing mortgage loan

  • From: vertuitymortgage201@gmail.com
  • Posted: 04/05/2016 06:01PM
  • City: Winnipeg
  • State: MANITOBA
  • Phone Number: 2048884663
  • Keywords: mortgage refinance, mortgage, mortgage brokers
  • Description:
  • Refinancing may refer to the replacement of an existing debt obligation with another debt obligation under different terms. The terms and conditions of refinancing may vary widely by country, province, or state, based on several economic factors such as, inherent risk, projected risk, political stability of a nation, currency stability, banking regulations, borrower's credit worthiness, and credit rating of a nation. In many industrialized nations, a common form of refinancing is for a place of primary residency mortgage. Some fixed-term loans have penalty clauses ("call provisions") that are triggered by an early repayment of the loan, in part or in full, as well as "closing" fees. There will also be transaction fees on the refinancing. These fees must be calculated before embarking on a loan refinancing, as they can wipe out any savings generated through refinancing.




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