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 ...

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.

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 ...

Homeowners consider refinancing for lower rates, lower monthly payments, debt consolidation, or better loan terms. Refinancing can save money, improve cash flow, and eliminate mortgage insurance costs ...