TermLoans & mortgages
Cash-out refinance
Refinancing for more than you owe and taking the difference as cash, tapping your home equity.
Watch out for this
Cheap cash, but you are enlarging your mortgage and risking your home — use with care.
About this entry: short by design — every term in The Money Translator gets a one-sentence definition and a one-sentence reason to care. Some terms get deeper guides under the work.