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refinance
(redirected from refinances)

   Also found in: Dictionary/thesaurus, Financial 0.01 sec.


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Sub-prime loans are available for second mortgage refinances and even with adverse credit, you may be able to lower the amount of interest you pay on your second mortgage.
For example, if the old mortgage was $100,000, and a homeowner refinances and borrows $10,000 from the equity, the new mortgage principle totals $110,000.
 
 
 
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