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Shock Home Owners want MORE EQUITY!

Started by Riversider
over 15 years ago
Posts: 13573
Member since: Apr 2009
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A record number of homeowners are kicking in cash when they refinance their mortgages, in most cases to qualify for interest rates that are now near historic lows, mortgage financier Freddie Mac reported this week. In the fourth quarter, 46 percent of borrowers who refinanced their primary mortgages brought cash to settlement to lower the balance on their loans, Freddie Mac said. That's the highest share of so-called "cash-in" refinances since the company started tracking the numbers in 1985. http://www.washingtonpost.com/wp-dyn/content/article/2011/02/01/AR2011020105892.html
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