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Real Estate Refinancing

Real Estate refinancing is the replacement of the present mortgage secured by the property with a new mortgage using the same property as collateral.

Real estate refinancing can be used to take some built up equity out of the property, to replace the existing mortgage with one having a lower interest rate or to move other debt that is not tax favorable to the mortgage which does have tax advantages.

An alternative to refinancing to take some equity out of a property is to take out a second mortgage.  A second mortgage is subordinate to the first mortgage and usually has a higher interest rate than can be had with a new first mortgage.

A second mortgage offers the advantage of not altering the original mortgage and usually involves less scrutiny and paperwork.  The advantage is that it is an easy way to move high rate credit card and other non-secured debt to a lower second mortgage rate with tax advantages.

A second mortgage can also be structured in the form of a credit line.  In this type of second mortgage the loan amount is in place but interest is only charged on the amount of the credit line being used.  It also has the flexibility to be used, paid down and used again.

In conclusion, if your objective is to reduce the interest rate on your first mortgage or you wish to use the lowest rate available to pull equity out of a property, then real estate refinancing is for you.  However, if you just need a quick, easy way to access some equity to pay off some credit card debt or use equity as a credit line, then a second mortgage might better fit the bill.

 

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What You Need To Know Before Refinancing Lansing State Journal
Lansing State Journal What You Need to Know Before Refinancing Lansing State Journal When you refinance your mortgage, you are essentially paying off your existing loan and replacing it with a new one. Whether it39s to tap into the home39s equity or obtain a lower interest rate, there are a variety of reasons a homeowner may choose the

How To Refinance A Loan For Your Business Forbes Forbes
Forbes How To Refinance A Loan For Your Business Forbes Forbes If you39re evaluating whether to refinance a loan for your business but aren39t sure where to start, learn how refinancing works, whether it39s a good fit for your business, and how to go about the loan refinancing process. and more raquo

600 Third Ave. Receives 175M Refinancing Loan GlobeSt.com
600 Third Ave. Receives 175M Refinancing Loan GlobeSt.com 4:00 pm, 5:00 pm, 6:00 pm, 7:00 pm, 8:00 pm, 9:00 pm, 10:00 pm, 11:00 pm. Overwrite Existing Alert: Create Alert. Thank You Don39t forget you can visit MyAlerts to manage your alerts at any time. 600 Third Ave. NEW YORK CITYA joint venture of

BRIEFSpeedcast International Says It Intends To Pursue Refinancing Of Its Exi...
BRIEF Speedcast International Says It Intends To Pursue Refinancing Of Its Existing Bank Loans Reuters April 19 Reuters SpeedCast International Ltd: INTENDS TO PURSUE REFINANCING OF ITS EXISTING BANK LOANS. SPEEDCAST INTERNATIONAL EXISTING BANK LOANS INCLUDE A 3 YEAR US425 MILLION SENIOR SECURED BANK LOAN AND US20 MILLION SENIOR SECURED

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Facts of Law about real estate refinance

Facts of Law - Refinance