text: what's the process for refinancing on a home mortgage? my brother and i share a condo together and both of our names are on the deed.  next year i plan on moving.  i know that we will have to refinance the loan to remove my name from the deed.  do i get any proceeds from the refinancing in order to purchase another home?  or will equity need to be taken out?  is this process treated the same as when a couple divorces and one moves out? first off, your brother will have to pre-qualify for the refinance without you.  secondly, there are no proceeds unless you do a cash-out and a cash-out is equity.  if equity is cashed out it is added to the org loan amt + refi fees.  which in turn, would leave your brother with a higher loan amt and a slightly higher pmt but would allow you to walk with your money to invest.