Cash out refinancing no longer cool

So-called cash-out loans, in which borrowers increase their loan amounts by at least 5 percent, accounted for 27% of all refinanced loans in the three months to June, capping the lowest three-quarter share on record. Cash-out refinances peaked at 88% in mid 2006.

Even Obama cashed out on his home, “… they owed about $240,000 on a home they purchased for about $159,250.”

August 11, 2010 by Realtor John Wake

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John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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