refinancing

/ ˌriːfɪˈnænsɪŋ /

noun

1. a method of paying a debt by borrowing additional money thus creating a second debt in order to pay the first

Example Sentences

Recasting a mortgage loan is one way to lower your monthly payments and pay less interest without refinancing.

From Salon

If you have private student loans, you may want to explore refinancing them to get a lower interest rate.

From Salon

It was also pinning its hopes on getting government loan guarantee that would allow refinancing with more conventional lenders.

From BBC

The company was increasingly reliant on high-interest borrowings from a specialist US lender, Riverstone, while telling shareholders that it was expecting to get a government guarantee that would allow refinancing with more conventional lenders.

From BBC

On Wednesday, the Halifax, part of Lloyds Banking Group, said that mortgage rate drops were "encouraging" for first-time buyers, those moving along the housing ladder or those refinancing.

From BBC