Cash Out Refinance

Cash-out refinancing is when you take out equity from your home and use it for something else. It's a smart idea if you're looking to consolidate high interest debt or pay off other loans, like credit cards. If not used strategically, though, this option could cause more financial problems down the line with higher monthly payments on top of current ones!

Cash-outs are essentially taking money directly out of their house in order to fund another expense that may be unrelated (like consolidating other debts), but can also be put towards remodeling projects around the house as well.