Toledo Legal News - News More than 3 million homeowners are saving money by refinancing: 3 things to consider
(BPT) Despite mortgage rates hitting historic lows during the last year, many homeowners still haven't considered refinancing their mortgage - essentially, replacing an existing mortgage with a new mortgage loan that has new terms and potentially a lower interest rate. Homeowners in lower-income brackets may be convinced they won't qualify for refinancing because of high debt compared to income, poor credit scores or lack of savings to cover closing costs.
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