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Once people understand "what is a cashout refinance," the next question is often, "why would I want to do this?"
There are a couple of options out there for homeowners who need some extra cash and cashout refinancing is just one of them.
Whatever you do, don't jump into a cashout refinance without first making sure that you'd be getting a better deal.
Finally, it's important to understand, "what is a cashout refinance good for?"