Unexpected events can disrupt your finances and derail your financial plans.

These events can be both positive and negative. Growing your family with new family members, career changes, moving away from home, and other unexpected events fall under these scenarios. Refinancing involves taking out a new mortgage to replace an existing loan. You may choose to get better interest rates, different bank or lender features, using equity to improve your home and lifestyle, or consolidate debts such as other loans for easier financial management. However, refinancing can be a complex process.