Mortgage Refinancing

My husband and I took a mortgage on our house 4 years ago.

I know this is going to sound stupid, but if we refinance, we can return our equity, just as we would if we were to sell it? I am confused about this boy.

I just thought of that and I do not know where to look for more information. If anyone knew, it would be appreciated. :)

You get your money in exchange for a longer term in exchange for lower rates. Or something like that;)

Your question is a little confusing, but if I understand the answer is no.
You can not take your equity back, just as you have sold your home. You still live in this house and this house is collateral for the money you borrowed. When you are moving out and selling the home you take your equity back.
You can shoot you some more money out of your home when refinancing. If your house has increased in price, technically, you can take more than mortgage when purchasing. But that means you borrow more money. Yes, you will receive a check of Nice when refinancing, but you outstanding principal balance will increase by precisely that amount.

There are two basic types of refinancing. One is called a rate and term refinancing, where you take everything you owe plus fees and obtain a new loan amount. The second is called a Cash Out Refinancing. This is where you take what you need in addition a certain amount. This extra money can go to consolidate other debts or cash back for you. You would get the funds after the loan funds to pay your old loan and saves the new lien against the property. There are different rates and terms with both options ready. In general, cash loans have higher rates and lower loan amounts on the value of your home.

NO, you do not get your equity back, but you get used to the new mortgage. You must have equity in the house to get a loan - no more than 0% loans.
You do not lose it, you will be credited to equity. The greater equity, the higher your monthly payments and less interest you pay on the loan.

Talk with your lender on a loan modification. It is easier, faster and cheaper than tighten. He enjoys your lender because you could go to another lender, and you reduce your interest rate and monthly payments, and costs less than doing a refi.

How refinancing works is to take a brand new loan for the cost of purchasing the old loan to a new (lower) rate intereset. That, yes, you keep your equity.

Example. You bought a house for $ 100,000 4 years ago. On an interest rate of 6% and a loan of 30 years, your monthly payments (principal + interest) is $ 599.55. After 4 years of making that payment. Your balance is $ 94,614.53. Assuming that the value of your house remained the same, you have $ 5,385.47 in equity in your home.

Now, when you can get a lower interest rate to 5%. What happens, you get a new loan of 30 who pays the balance remainging $ 94,000. You still have the balance of your home, you keep the equity, but your monthly payment drops to $ 507.91 per month.

You keep the equity, but you now have 30 more years to pay (instead of 26 from your previous loan).

Just one example: You have a 200k mortgage at 7% you refinance 200k 5%
You do not get money

You need 200k, your house is worth 400, then you take a new mortgage for 250k then you get a check for 50k

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They may or may not be built. It depends on many factors and the size of the debt.