A cash-out refinance replaces your current mortgage with a new, bigger one that converts some of your home’s equity to cash. The terms of your refinanced mortgage might significantly differ from your ...

While a cash-out refinance has many benefits, it’s important to consider both the pros and cons of this financial product before applying for one. A cash-out refinance lets you tap into the equity you ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

You won’t owe taxes on the cash you receive from a cash-out refinance. If you use the cash to fund capital improvements on your home, the interest may be tax-deductible. Any mortgage interest you ...

Home equity is at historic highs. If you've faithfully paid your mortgage over the years, you've likely built up quite a bit of it yourself. According to the Federal Reserve, American homeowners are ...