This week, I’m covering the basics of cash out refinances, because as rates begin to rise, cash out refinances still offer value to homeowners (where “rate and term” refinances begin to make a less compelling case). Also, we put a fun spin on the ’80’s hit “Money for Nothing,” because while cash out refinances may offer a really cost-effective way to do home improvement, finance a large purchase or permit consolidation of higher-interest rate debts, the money isn’t free. Even if you know how to play the guitar…So come rock ‘n’ roll with me on a short, fun and educational review of the basics of a cash-out refinance:
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That’s the way you do it!
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343
Cell/Text: 415-367-5959
rob.spinosa@rate.com
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