The donkey has been used as a working animal for at least 5000 years. Of the more than 40 million donkeys in the world, about 96% are in underdeveloped countries, where they are used principally as pack animals or for draught work in transport or agriculture.he donkey has been used as a working animal for at least 5000 years. Of the more than 40 million donkeys in the world, about 96% are in underdeveloped countries, where they are used principally as pack animals or for draught work in transport or agriculture.
Definition. Paying off an existing loan with the proceeds from a new loan, usually of the same size, and using the same property as collateral. In order to decide whether this is worthwhile, the savings in interest must be weighed against the fees associated with refinancing.aying off an existing loan with the proceeds from a new loan, usually of the same size, and using the same property as collateral. In order to decide whether this is worthwhile, the savings in interest must be weighed against the fees associated with refinancing.
Best Answer: refinancing is simply getting a new loan and using it to pay off your old loan. For example if you owe $150k on your current mortgage, you shop around for a new loan of $150k.When you get one, you use the money to pay off the old loan.here are fees for a refinance so if your goal is to lower payments your new interest rate should be at least 1% lower than your current loan and you have to plan to keep the home for at least 7 years to make it a good deal. Otherwise your fees are more than your savings.