To make sure you dont get ripped off make sure you read our article dangers of mortgage refinancing and become aware of the how to avoid this potential pitfall. Twelve refinancing rules when in doubt do not refinance or consolidate debts. We recommend that you be very careful when refinancing debts. Your refinancing cost is the total of any points closing costs and private mortgage insurance pmi premiums that you pay when you take out the new loan. If you are divorced refinancing your home can make things easier in regards to what happens to mortgage payments when the home is given to one of the parties. Refinancing refers to the replacement of an existing debt obligation with a debt obligation bearing different terms.
