I always hear on commercials about people who refinanced their home and get extra money to remodel their house or take a trip or other things like that. Is this really legal? When we got our first mortgage the mortgage broker said we could only take a mortgage out for the amount we were paying, we couldn’t take out extra. So how can you get a big chunk of extra money like that from mortgage refinancing? Do you just end up taking back out the money you have already paid for your mortgage? That is the only possibility I can think of.