Bank asking what i'm doing with the funds?

[Mike F.]

I'm doing a cash out refi and the bank is asking me, "what am I doing with the funds', what is the right/wrong answer to this question?

Obviously, they have never heard of BRRRR method.

thanks in advance for any insight.

[Jason D.]

@Mike F. Right answer: paying the current loan and using the remaining cash to continue purchasing assets. Wrong answer: Going to the casino and putting it all on black!