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Real estate investment trust (REIT)
A closed-end investment company that buys real estate properties or mortgages and passes virtually all of the profits on to its shareholders. REIT shares trade like stock on the NYSE and other stock exchanges and offer a convenient way for small investors to add a real estate component to their investment portfolio.
Refinancing
Refinancing is replacing your current mortgage with a totally new mortgage. This can be done to get a lower interest rate or just to pull out part of the equity you have built up in the mortgage. Normally you will have to pay the loaning institution a percentage of the new mortgage amount (called points where 1 point = 1 percent). The points are one of the ways the loaning institution makes profit.