Tag Archives: cash out refinance

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Cash Out Refinance – What You Need To Know

What Is A Cash Out Refinance “Re-financing an existing mortgage in excess of the balance is owed on the present mortgage, is called a cashout refinance.” The present balance due is calculated after adding the settlement costs. The reason why you can refinance for a greater amount than due is if the value of the […]

Income Taxes Applicable On Refinancing A Home Loan

Usually there are no income tax repercussions of refinancing a mortgage. When you take out a cash out refinance on a mortgage you generate extra income. But since you are going to have to pay back you may not think of it as pure income. The IRS knows this and hence makes the money that […]