how can i use the money from a cash out refinance 
there are no restrictions on how you can use the funds from a cash out refinance many borrowers use the cash to pay for a big expense such as to fund an education or pay down debt or as an emergency fund the bottom linerefinancing is a means of replacing an existing mortgage with a new one that presumably has better terms for the borrower a cash out refinance is an option within mortgage refinancing that allows the borrower to convert home equity into cash this occurs when the borrower takes out a new mortgage for more than the previous mortgage balance with the difference between the two paid out in cash 