cash-out refinance
Definition
Refinancing a mortgage for more money than it originally covered, to use the extra money for personal purposes. The amount of cash a borrower can take depends on several factors, including the value of the home, amount of the mortgage, income, and credit. The borrower receives this money in a check after closing.
Related Articles
- What Benefits Do ETFs Offer to Investors? *
- Borrowing Against a Life Insurance Policy *
- Financing Your Small Business - Writing a Business Plan *
- International Stocks *
- Understanding Stock Dividends *
- Leading Economic Indicators Explained *
- The FTC and the Economy *
- Analysts and Earnings Estimates *
Related Videos
http://www.businessdictionary.com/definition/cash-out-refinance.html
