What does it mean to refinance out of the home?

[Christina Kokologiannakis]

I have been listen to the BP podcast. 

My question is about something I keep hearing in the BP podcast.  I think it was they are financing out of their property.  Or cashing out of their property.  Maybe these are two different things.  But I would like to know what these mean and how to use them.  Is this the same as refinancing to take out the money you invested in it?  I heard about that as well. 

I appreciate the help!