Mortgage refinancing to pay off debt Massachusetts

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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.

    Refinancing mortgage loans

    It is worth refinancing a mortgage if another bank offers you a lower loan rate and, as a result, your monthly payment will be less than in the current bank.

    Refinancing should not be confused with restructuring. Restructuring is a bank service that can be used if there are difficulties with repaying a loan.

    For example, get a loan holiday or extend the term. This is a negative mark in the credit history. And refinancing - recalculation of the loan under new conditions - is available to customers with a good credit history.