Refinance

[Skye12329]

How does refinancing work? We got our loan in September but are talking about refinancing with my CU once DH scores get up so about a year or so, not in a rush. But how does refinancing work? Like i understand Bank B pays Bank A to take over the loan but what is needed?

[ScoreOrBeScored]

You Will give the CU your current lien holder info including your account number, they will get the 10 day payoff for your loan,

send electronic payment to them to pay them off and your new loan starts with the CU. kind of like a BT with a CC pretty much.

[Anonymous]

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@ScoreOrBeScored wrote:

You Will give the CU your current lien holder info including your account number, they will get the 10 day payoff for your loan,

send electronic payment to them to pay them off and your new loan starts with the CU. kind of like a BT with a CC pretty much.

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This ^^^...