The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

CASH-OUT REFINANCE Definition & Legal Meaning

Definition & Citations:

Refinancing for more money that the mortgaged amount. Done to get money out for other purposes. Based on many points: home value, mortgage value, income of the mortgagee, credit rating of the mortgagee. Money is received by check after the closing.

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