Archive for the ‘New Cars’ tag
The Home Equity ATM Machine Slows in First Half of 2008
Whatever else is going on in the housing market, it appears that
Americans are no longer using their homes as gigantic credit
cards to finance new cars, tuition, and vacations.
Freddie Mac’s report on cash-out refinancing for the first half of
2008 showed that the number of homeowners taking that option was the
lowest in three years.
Still, a substantial number of those refinancing Freddie Mac-owned
loans approximately 66 percent did so with new loans that were…