In this video real estate expert, Alex Melconian, speaks with TD bank mortgage specialist, John Ekmekdjian, about refianancing and mortgages.

Contact John Ekmekdjian: Mortgage Specialist, [email protected]

Why do people refinance? What are the benefits to refinance?
What costs are involved with refinancing?
How does this affect your credit score?

John talks about 3 main reasons why people refinance:
1) Taking out equity or cash
2) Reamortization
3) Debt consolidation

Types of refinance: Standard mortgage, Home equity line of credit (HELOC)