Posted on

cash out refinancing

Contents

  1. equity — to tap into idle cash — from your home may prove to be a worthwhile endeavor. In March 2011, Fannie Mae lifted the.

    A cash-out refinance is a home loan where the borrower takes out additional cash beyond the amount of the existing loan balance. It can be used for things like home improvements, to pay for college tuition, or to pay off credit cards.

    The name itself conjures up images of ATMs: cash-outs. You may associate the term “cash-out refinancing” with the frothy and dangerous days of the real estate boom, when some owners turned their.

    Cash-out refinancing may not be for every homeowner, but for people who need quick access to cash, it may be the ideal choice.

    But can you do this. The question is whether or not it’s a good idea? It’s possible, in some circumstances, to use a mortgage refinance loan to pay down debt. You can take a cash-out refinance loan to.

    If you want to