Definition of Refinancing

This section should provide a clear and concise definition of what refinancing is, in simple language that is easy to understand.

This section should explain how refinancing works, including the process of paying off an existing mortgage with a new loan and the terms of the new loan.

This section should explain the reasons why homeowners choose to refinance, such as lowering their monthly payments, reducing their interest rate, or changing the terms of their loan.

This section should outline the advantages of refinancing, including lower monthly payments, reduced interest rates, and the ability to change the terms of the loan.