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cash-out
[kash-out]
noun
Also cashout a direct cash payment or a cash profit or remainder.
The store owner lived on a cash-out of fifty dollars a day.
a payment of winnings or a cashing in of chips, as in a casino.
Example Sentences
The plaintiffs’ lawyers would also be paid from the eventual sale or cash-out; they said they would ask for no more than 39 percent of the amount received by the class.
Others have borrowed against their homes to put cash in their pockets, either with a reverse mortgage, home equity loan or cash-out refinance.
Mason and Nicole helped finance the ADU with a cash-out refinance that took six months and through a $40,000 CalHFA ADU grant, a state program administered through the nonprofit HPP Cares and designed to help low- and moderate-income California homeowners build ADUs.
A cash-out mortgage refinance is the process of replacing your existing home mortgage with a new, bigger mortgage, then taking out the difference in cash.
Keep in mind, a cash-out refinance completely replaces your existing mortgage and may change your repayment timeline or monthly payments.
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When To Use
To cash out is to exchange something, such as casino chips or stocks, for money, as in Jorge had to cash out his retirement fund when he lost his job and couldn’t find another.Cash out is typically used in casinos, which use items such as chips or tokens to represent money you’ve won or paper slips that keep a tally of the money you’ve won. When you’re done gambling, you cash out by exchanging the items or paper slips for money. You can also cash out stocks, bonds, and similar investment products. Instead of exchanging chips or paper slips, you’re exchanging your share of ownership in the thing you purchased for the money your ownership represents. When referring to an exchange for money, you can also use cash in.To cash out also means to balance a cash register at the end of a work shift. When you cash out your register, you count all of the money in the register and all of the money spent with credit or debit cards to make sure the sum matches the cost of products sold.Example: Tanya always cashes out her register by adding the money on a piece of paper.
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