Question

What is refinancing ?

Answer 1

“re·fi·nance

/rēˈfīˌnans,ˌrēfəˈnans/Submit

verb

gerund or present participle: refinancing

finance (something) again, typically with a new loan at a lower rate of interest.”

Google Dictionaries

Answer 2

Refinancing is the replacement of an existing debt obligation with another debt obligation