cash-out refinancing

Definition

The process of taking out of a new mortgage at an amount that exceeds the existing balance on the current mortgage in order to refinance the original mortgage and receive additional cash for other use.

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You may find that your best option is to use cash-out refinancing if you want to get a hold of some cash.

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We did some cash-out refinancing and I was really happy with the road we were taking and how we would get there.

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When my brother was given the opportunity to become a shareholder in his company, he financed his purchase by doing a cash-out refinancing on his home.

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