eli5 What would happen if I pull the equity from my home with a cash out refi and then le the home go into foreclosure?

Question

Im aware that my credit is gonna take a big hit but I want to know what’ll happen to me down the road.

In: Other

Answer 1

It’s unlikely that a bank would give you that much. Maybe up to 90%, but they don’t like to refi more than that.

The banks would sell your house, and keep all the money.