Cash-out refis soar
Friday, August 05, 2005
If you haven't already refinanced your $200,000 house to buy a $32,070 Hummer H³, what are you waiting for
Americans are using refinancing to take cash out of their homes -- but that can be a risky strategy.
Other good uses include retiring more expensive debt. Mortgage loans are far better for the borrower than high-interest credit card or auto loans and can even have advantages over student loans, said Moulton, "The government is a partner in paying off mortgages." Not only are interest rates lower than other loans, the interest is also tax deductible.
CNN Money
posted by author @ 11:22 PM,
