Refinance

Refinance

When a debt is repaid by making another loan on different terms.

Contributors in Refinance

Refinance

Loss mitigation is the process of you and your lender working together to come up with a solution for avoiding foreclosure when possible. Includes home retention options as well as short sale or deed ...

imminent default

Banking; Refinance

Imminent default is a term that refers to a borrower who is current on his or her mortgage loan but is at risk of not being able to continue to pay the monthly home loan payments due to a financial ...

hope for homeowners

Banking; Refinance

The HOPE for Homeowners program will refinance mortgages for borrowers who are having difficulty making their payments and are at risk of foreclosure but can afford a new loan insured by HUD's ...

home retention

Banking; Refinance

Keeping your home in the face of foreclosure is home retention. Home retention options generally involve loan modifications, forbearance or deferment, and repayment plans. Asking for home retention ...

home equity loan

Banking; Refinance

A loan secured by the equity in a borrower's residence. It can be used for home improvements, debt consolidation, and other major purchases or expenses. On the funding date, all of the principal is ...

home equity line of credit (HELOC)

Banking; Refinance

A line of credit secured by the equity in a borrower's residence. It can be used for home improvements, debt consolidation, and other major purchases or expenses. At closing, a credit limit is ...