cash-out refinance

cash-out refinance

To refinance a property in an amount sufficient to pay off existing debt and provide cash to the owner. Because this is not a taxable event, it is a widespread way for investors to realize benefits from the growth in their assets without having to sell them.

References in periodicals archive ?
Cash-out refinance loans account for 0% and second homes 0%.
Cash-out refinance loans and investor properties represent 27.
There are no co-op, cash-out refinance loans or investor properties.
Rate/Term and cash-out refinance loans account for 21.
Rate/Term and cash-out refinance loans account for 14% and 22% of the pool, respectively.
USD20 billion in equity was tapped via cash-out refinances in Q1 2016, one-half of one percent of total available equity.
So far, homeowners aren't using cash-out refinances to overleverage themselves.