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Loan Modification

: Mortgage Lender Implode-o-Meter

How Texas Escaped the Housing Crisis

By Implode-Explode Heavy Industries

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"A cash-out refinance is a mortgage taken out for a higher balance than the one on an existing loan, net of fees. Across the nation, cash-outs became ubiquitous during the mortgage boom, as skyrocketing house prices made it possible for homeowners, even those with bad credit, to use their home equity like an ATM. But not in Texas"

Full post as published by Mortgage Lender Implode-o-Meter on April 04, 2010 (boomark / email).

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