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Posted on 26-Apr-2016 10:12
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Refinancing may refer to the replacement of an existing debt obligation with another debt obligation under different terms.
If the replacement of debt occurs under financial distress, refinancing might be referred to as debt restructuring,
A loan (debt) might be refinanced for various reasons:
1. To take advantage of a better interest rate (a reduced monthly payment or a reduced term)
2. To consolidate other debt(s) into one loan
3. To reduce the monthly repayment amount
4. To reduce or alter risk
5. To free up cash (often for a longer term, contingent on interest rate differential and fees)
For more information please contact Vertuity Mortgage Inc, 3200 Roblin Boulevard, Winnipeg, Manitoba, R3R 0C3, Ph: 204.888.HOME (4663)/ Fax: 1.888.245.9717.
Address 3200 Roblin Boulevard Winnipeg, Manitoba R3R 0C3
