refinance

transitive verb | \ ˌrē-fə-ˈnans, -ˈfī-ˌnans \ | re·fi·nance

1. : to renew or reorganize the financing of

2. : to revise the terms of (a debt obligation) especially in regard to interest rate or payment schedule refinance a mortgage

   : to finance something anew

noun

1. : a financing of something anew; especially : a revision of the terms of a debt obligation (as a mortgage) : a revision of the terms of a debt obligation (as a mortgage)