refinance

(rē′fə nans′, rē fī′nans′)

to finance again; specif., to provide or obtain a new loan or more capital for

See refinance in American Heritage Dictionary 4

intr. & tr.v. re·fi·nanced, re·fi·nanc·ing, re·fi·nanc·es

To provide new financing or new financing for, as by discharging a mortgage with the proceeds from a new mortgage obtained at a lower interest rate.

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