Refi/cashout? Having a hard time wrapping my head around it.

[Chris Stromdahl]

I understand the concept, but how does it work?

fter I refinance, what am I cashing out?

In what form dAoes the cashout come?

• Cash in the form of a check?
• A line of credit at the bank that can be used in any way I decide?

What is the typical interest rate?

This has come up in convos relative to HELOCs. I understand the HELOCs and where that money comes from, this one is next.

Thanks, Chris