– How does mortgage refinancing work, and why would a bank offer it if it saves the home buyer money?

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Why would a bank offer refinancing at a lower interest? Is any money saved at all, or is it just paid on a different timeline?

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Anonymous 0 Comments

To add on to this question, I wonder why banks haven’t lobbied hard to make it illegal to refinance. It seems like it would be a no brainer to capture people in 30 year contracts that are impossible to escape from.

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