clarification on refinacing.

[Nicholas Wedra]

So my intial understadning is when a person refinaces a loan they essitinally are swapping out there old loan and replacing it with a new one with less interest. in this situation i underatand how people save money by lowering there interest rate thus lowering there payments, but i have been reading and hearing from people stating they got a large sum of money when they refinaced. i just read a artical where somome got 18k from a refinace. i just dont understand where the 18k came from if all he did was get a lower interest rate and in turn lower payments.