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What is the difference between a workout and a refinance?

difference Refinance workout
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What is the difference between a workout and a refinance?

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Our specialists review workouts in a situation where a customer has suffered a hardship and may be delinquent. We will review the situation, make a recommendation and attempt to workout the existing account. A refinance is a new loan which pays off your account and would not be handled by a workout specialist.

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