FindLaw Legal Dictionary
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refinance vt1 : to renew or reorganize the financing of
2 : to revise the terms of (a debt obligation) esp. in regard to interest rate or payment schedule [ a mortgage]
: to finance something anew
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.