As in the meaning of “redo” to “re”finance is to basically redo your original financing. There are many reasons one would refinance, possibly to switch from an adjutable to a fixed mortgage, to lower you interest rate, to obtain money from the equity in your property, to consolidate debt through a cashout, etc.
Answer
As in the meaning of “redo” to “re”finance is to basically redo your original financing. There are many reasons one would refinance, possibly to switch from an adjutable to a fixed mortgage, to lower you interest rate, to obtain money from the equity in your property, to consolidate debt through a cashout, etc.