What is cash-out refinancing, and how can it help homeowners? Frances Newton Stacy, director of strategy at Optimal Capital, explains on CBSN. | CBS News
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What is a cash out refinance and how does it actually work? This is a question we have been getting a lot lately. Simply put cash out refinancing replaces your current home loan with a bigger mortgage, allowing you to take advantage of the equity you’ve built up in your home and access the difference between the two mortgages (your current one and the new one) in cash.Since it is a loan. The proceeds from a cash out refinance are not taxed. And in some instances the surplus cash from the refinan
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