cash-out
Additional cash remaining after a borrower refinances a loan, by obtaining a new loan for a higher amount than the total of the old loan and any associated fees. Once the borrower receives the funds, he will often use the cash-out to consolidate credit card and other debt, or to make home improvements.
Get a Free Quote
The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
cash
Noun: cash, hard cash, hard currency (money in the form of bills or coins) "there is a desperate shortage of hard cash"
Noun: cash, immediate payment (prompt payment for goods or services in currency or by check)
Noun: Cash, Johnny Cash, John Cash (United States country music singer and songwriter (1932-2003))
Verb: cash, cash in (exchange for cash) "I cashed the check as soon as it arrived in the mail"
out
Noun: out ((baseball) a failure by a batter or runner to reach a base safely in baseball) "you only get 3 outs per inning"
Verb: come out of the closet, out, come out (to state openly and publicly one's homosexuality) "This actor outed last year"
Verb: out (reveal (something) about somebody's identity or lifestyle) "The gay actor was outed last week"; "Someone outed a CIA agent"
Verb: out, come out (be made known; be disclosed or revealed) "The truth will out"
Adjective: out, retired (not allowed to continue to bat or run) "he was tagged out at second on a close play"; "he fanned out"
Adjective: extinct, out (being out or having grown cold) "threw his extinct cigarette into the stream"; "the fire is out"
Adjective: out (not worth considering as a possibility) "a picnic is out because of the weather"
Adjective: out (out of power; especially having been unsuccessful in an election) "now the Democrats are out"
Adjective: forbidden, out, prohibited, proscribed, taboo, tabu, verboten (excluded from use or mention) "forbidden fruit"; "in our house dancing and playing cards were out"; "a taboo subject"
Adjective: out (directed outward or serving to direct something outward) "the out doorway"; "the out basket"
Adjective: out (no longer fashionable) "that style is out these days"
Adjective: out (outside or external) "the out surface of a ship's hull"
Adjective: out (outer or outlying) "the out islands"
Adjective: knocked out, kayoed, KO'd, out, stunned (knocked unconscious by a heavy blow)
Adverb: out (away from home) "they went out last night"
Adverb: away, out (from one's possession) "he gave out money to the poor"; "gave away the tickets"
- cash-out -
Get a Free Quote
Return to Mortgage Glossary
A-C |
D-G |
H-N |
O-S |
T-Z
