Is refinancing still called refinancing even if you already paid off the old mortgage and own the house?

2 Responses to “Is refinancing still called refinancing even if you already paid off the old mortgage and own the house?”

1. sassy25 says:

   November 11, 2010 at 3:18 pm

   Payed off mortgage is called Mortgage Free.
   Later you take out a mortgage. Nothing fancy at all. The rates depend on your credit rating and ability to repay the lender
2. Eddy T says:

   November 11, 2010 at 3:44 pm

   Just remember a mortgage is an agreement which a bank lends you to buy a home.The terms and rate are what is prevailing at the time you take the mortgage.

Leave a Reply

Click here to cancel reply.

Name (required)

Mail (will not be published) (required)

Website

CAPTCHA Code *

Notify me of followup comments via e-mail