Can anyone demarcate Refinancing for me please?

From what I understand when one refinances a home you pay a sum of 7 to 15 thousand dollars to lower the monthly salary of say 2,000 down to 1,300. but in the shutting they extend the life time payment from read aloud 20 years to 35 or 40.
Answers:
refinancing means that you have something financed and who dance out and find someone who will give you better terms -- you example is one type buy it the interest rate dropped one my be capable of reduce both the amount and number of payments by refinancing!

Related Questions:
When fixing the interest rate on a home loan I know you cant refinance or put up for sale short high-ranking exit fees.?   Went surrounded by for a refinance the mortgage co. become buyer and me the trader?   How can I lower my monthly reimbursement short refinancing?   Is it honourable to refinance or not?   Refinanced my home be charged a loan discount an concede spread premium both salaried to broker is this permissible?  
  • Want refinance or market house next to wife unreachable for indefinite interval. On disability, dont want divorce?
  • Refinance for client..............?
  • Where can I find some Boston refinance info?