Mortgage offers contain many terms less than 30 years, and some are as little as 10 years.
Refinancing loans have a lower rate if it is taken for a shorter period, but the monthly payment increases.
It is the restoration of an existing loan with the same borrower and lender.

Over time the previous things that have had a negative effect on your credit can go away or be removed.

If you already have an FHA mortgage you may be able to refinance with FHA Streamline Refinance Mortgage.

With $ 1 trillion coming due in the next four years, there will be many borrowers will not be able to refinance.