Finance
What is 'cash-out refinancing' in Delaware real estate?
APaying cash at closing instead of taking a mortgage
BRefinancing a mortgage for more than the outstanding balance and receiving the difference in cash✓ Correct
CA refinance with no cash required from the borrower
DA cash transaction with seller financing
Explanation
Cash-out refinancing replaces an existing mortgage with a larger loan, and the borrower receives the difference between the new loan amount and the payoff of the existing mortgage as cash, allowing access to home equity.
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