cash-out refinancing

cash-out refinancing definition - business

cash-out refinancing

Refinancing a mortgage when the principal amount of the new mortgage is greater than the remaining principal of the mortgage being refinanced, and the difference is taken in cash. Compare no cash-out refinancing.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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