Mortgage refinancing options Maryland

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Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    How to refinance a mortgage loan?

    If you are no longer satisfied with the terms of your mortgage, or more attractive loan options for the purchase of real estate have appeared on the market, you can try to refinance the mortgage loan. The procedure allows you to reissue it and repay the balance of the debt on other terms.

    The procedure is the issuance of a new mortgage loan secured by the same real estate for which the original loan was issued. The amount received from the new creditor is used to pay off the balance of the original loan - it is closed. Instead, the borrower pays off a new loan on more favorable terms than the original one.