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Money Management Glossary Definition (English)
Refinance Defined
The following is in context to Money Management, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"If interest rates drop below the rate you paid when you took a student loan, mortgage or other long-term loan, you might refinance the loan to take advantage of the lower rate. You would get a new loan, and use that money to pay off the original, leaving yourself with a loan of the same size, but with a lower interest rate."
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