Bank asking why I want a refinance

[Stephen Burke]

Looking to do a cash out refinance of a investment property for the purpose of paying of a pension loan off ( which I took out to buy the property) and using the rest to buy another multi family. Already started the application process with the lender I have the mortgage for. My question: will the bank look upon this strategy favorably or is there a better way to approach them. Thank you.

[Russell Brazil]

I wouldnt mention buying more real estate, but tell them you plan to pay back the pension loan and to fund your emergency account.