My bank sold my mortgage to a scammy mortgage company and I need to refinance and all the jargon seems scary and confusing.
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A conventional mortgage refinance is just like getting the first mortgage. You go to a mortgage broker/bank, they get your financials, credit, and appraise the house. If everything adds up you go to closing. You sign some paperwork, you now owe the new bank a ton of money and they send a ton of money to your old bank to pay off the mortgage. Then the new bank has a lien on your title, not the old bank.
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