I hear a lot of chatter about a boom in cash-out refinances, and the presumption seems to be that this is destined to wreak havoc on the housing market and the economy at some point. Cash-out loans have been growing over the past few years and it is also true that we have a recent history of excessive equity extraction factoring in a bust in housing. But there are several critical reasons why the recent uptick in cash-out refinancing is nothing like the cash-out boom of the early to mid-2000s.
First, the refinance boom’s main driver in the 2000s was unhealthy because details ⇒
BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com