It gives you the opportunity to pay off your existing mortgage prior to the predefined period of time, helping you to reduce your monthly payments, and reduces the life of the mortgage by turning it into a short-term mortgage, among other benefits.
One reason many homeowners embark on a refinance home loan is finally free themselves from their numerous credit card debts that have become unmanageable.
Two years after a negative event, like a bankruptcy or foreclosure, and improving your income, investments and cash reserves can increase your score.
In fact, you can find a handful of lenders who are willing to work with you, but when you compare their offers with what you already have you may find that you can not save money.

Fixed rates are recommended for people who prefer a fixed payment amount each month.

A mortgage is a collective term for a loan that is secured against a property.