REFINANCE AGREEMENT

News & Events
11 Feb 17
Refinance Agreement?

A refinance agreement occurs when a business or person revises a payme...

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Refinance Agreement

A refinance agreement occurs when a business or person revises a payment schedule for repaying debt. Mechanically, the old loan is paid off and replaced with a new loan offering different terms.

When a company refinances, it typically extends the maturity date. Companies or individuals refinancing loans may have to pay a penalty or fee.