Refinance
1. When a business or person revises a payment schedule for repaying debt.
2. Replacing an older loan with a new loan offering better terms. Investopedia Says:
When a business refinances, it typically extends the maturity date. When individuals change their monthly payments or modify the rate of interest on their loans, it usually involves a penalty fee. Related Terms:
Bullet Repayment
Cash-Out Refinance
Debt Consolidation
Rate And Term Refinance
Refinance Wave
Refinancing Risk
Refunding
Second Lien Debt
Short Refinance
Waterfall Payment |