What Is Refinancing?
Refinancing is popular among property investors and owners who find that the value of their property has appreciated.
A simple explanation of refinancing, is taking another loan for a property that already has a loan taken out on it.
The loan taker will be able to approach the bank to evaluate their property, and if the value of the property has increased, the borrower will be able to take another loan based on the higher value.
This will give them a “cash back” which they will be able to use the monies to invest in other areas.
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