Cashing out", I suspect, refers to refinancing, not paying cash.

Also i am considering refinancing and someone told me that if i get my Mom to add me on her oldest credit card it will make it look like i had that card for the 15 years she has had it and it will help my credit score alot.

We were looking at refinancing the loan with a bank, but since the market tanked, we owe more than the home is worth.

And, in many cases, you don't want the borrower to be awar of it as they may seek refinancing and offer the seller a lower price for the payoff!

Jon, you said that refinancing hard money might be easier then getting a loan in the current situation.

My first home I purchased in 1978 with only enough to pay closing costs and fees and such and most of that was borrowed from family members.When it came time to move to a new house, I refinanced the first, and used the cash from that to buy my 2nd house.

On top of all of that, he and my mother are scheduled to go on a mission's trip to Africa in August and he won't have the cash to go unless these deals refinanced.Well, miracle of miracles, both refinanced on Friday and I am sending him a big chunk of cash that should ensure he doesn't die of heart attack in the next 6 weeks and that the little children in Africa will actually get something to eat next week.

They refinanced the property in 2009 at $114,000.

maybe he bought or refinanced 11 properties at once at the same closing with the same blanket loan, all for 145k

It matters to the bank since they have rules they must live with.If you're refinancing, go talk to them and see what they will do, no one here can say it will or won't work for you.