refinancing

Definition of "refinancing"
  1. The process of paying off a current loan by obtaining a new one, often to get improved loan conditions, such as a lower interest rate
How to use "refinancing" in a sentence
  1. He considered refinancing his mortgage when he noticed dropping interest rates.
  2. Refinancing her student loans allowed her to pay less interest over time.
  3. Through refinancing, the company was able to manage its debt more effectively.
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