the.com/refinance
Trading your old loan for a new one, hoping the math forgives you.
means Replacing an existing loan with a new one, usually for a better rate, lower payment, or cash from your equity.
from From Latin 'finis' (end) via 'finance' — settling debts — plus 're-', meaning to settle the debt again, with a fresh one.
Closing costsOften 2-5% of the loan, easily forgotten
Cash-outLets you borrow against home equity
Break-evenWorth it only if you stay long enough