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What is remortgaging

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Icon Mini Profile leeelliot61





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Post Posted: Wed Oct 07, 2009 10:06 pm    Post subject: What is remortgaging
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What is remortgaging
Icon Mini Profile sunnyca2009





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Post Posted: Wed Oct 07, 2009 11:07 pm    Post subject:
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May be your question is re-financing
Icon Mini Profile jenkin7
jenkin7




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Post Posted: Thu Oct 08, 2009 1:01 am    Post subject:
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Hi leeelliot,

Re-mortgaging is nothing but refinancing. When you have an existing loan debt and you replace it with a new loan with new rates and terms, it is known as refinancing or re-mortgaging. Through refinancing people often switch over to a new loan with lower interest rate and pay off their current debt obligations.
Icon Mini Profile dollylee9





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Post Posted: Fri Oct 09, 2009 10:23 am    Post subject:
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A remortgage is noting but refinancing. This contains the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security.

Homeowners may choose to remortgage for various reasons as below-

1)Including to reduce the size of repayments.
2)To pay off a mortgage earlier.
3)To raise capital.
4)To consolidate other debts.
Icon Mini Profile sunnyca2009





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Post Posted: Fri Oct 09, 2009 11:26 am    Post subject:
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Most of the pople do it to when the intrest rates are lower.

Also when you have ARM reset, people normally try to refinance and get a lower rate
Icon Mini Profile adrianlee1971





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Post Posted: Tue Oct 13, 2009 6:07 am    Post subject:
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A remortgage is changing your mortgage without moving your home. When you remortgage you are ending your old mortgage deal and switching to a new one. This normally involves switching your lender although you can sometimes change deals with your current provider. If you do remortgage with your current lender it normally involves changing your existing deal.
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