Study: How using homes as ATMs fueled foreclosures

Study: How using homes as ATMs fueled foreclosures

Source: The Wall Street Journal
Why did so many people who bought their homes before the housing bubble fully inflated end up losing their homes? These homeowners aggressively used their homes as ATMs, extracting cash by refinancing
into larger loans or using home-equity loans, according to a paper published by Steven Laufer of the Federal Reserve Board.

Read the full story…

For a detailed Market Analysis of your home or neighborhood, to to http://www.clarkransom.com for your Market Insider Analysis report.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s