Cash Out Mortgage

Importance: 0.86

Is a company: no

Is a proper noun: no

Notes: More commonly referred to as "home equity loan" or "refinance."


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Definition of Cash Out Mortgage

  1. This type of refinance is when a borrower takes out a new loan on their existing property, but the new loan amount is greater than the amount of the original mortgage. The difference is then taken out in cash.
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