"If the original loan was an adjustable rate loan refinancing allows the borrower to change the type of loan rates fixed rate loan thus reducing the risk of the borrower.
Between the cost of living in California and funding and high credit card interest charges and other monthly obligations, debt can become out of control.

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It is a known fact that any decrease in interest rates may result in substantial savings overtime.
mortgage refinancing companies also allow you to put a lock on your application when things seem bleak.
If there is enough equity in the house FHA will insure mortgages that include missed mortgage payments.
Be careful, though, in choosing your lenders if you want a successful refinancing program.