The end result is that, as time goes by, the value of the house that's clear of the debt raises creating using equity to refinance loans possible. For example, with a mortgage value $250,000, which needs monthly repayments of perhaps $1,000 more than 25 years, a lot more than $50,000 of the key will have been repaid after 5 years. Which means there's house equity of $50,000 available, and a...