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Refinance mortgage is the best way to escape from foreclosure or sale of mortgage property. When a person goes for refinance mortgage on an existing mortgage, it implies that he/she intends to replace the current mortgage with a new mortgage. To opt for refinance mortgage, there may be several fiscal reasons. Primary reason should be for saving the money. To save the money, existing mortgage is replacing with lower interest rates and reduced costs. Secondary reason may include the desire to change the existing mortgage with adjustable rates to a mortgage with permanent rate. Such practices reduce the costs over the time... more