What does "re-amortizing" a loan mean?

Amortization is the schedule for repayment of the loan. At inception, the amortization, or schedule of payments is set. Re-amortization is when at some point during the repayment, the schedule of payments is changed.Basically refinancing your loan for a longer or shorter term. This in turn will change your monthly payments either higher or lower than you are currently paying. I hope this helps....