Oh my, qualifying, renewing, and refinancing! Mortgages may seem like a riddle. Fortunately, things aren't always as difficult as they seem. If you're feeling overwhelmed, you have a lot of tools at your disposal, such as the advice of your REALTOR®.
Let's look closely at the mortgage refinancing process, including what it involves, when it happens, and why it happens.
What exactly is refinancing?
To put it simply, when you refinance a mortgage, you end the old loan agreement and start a new one....