Consumer Mortgage News Free mortgage news for current and prospective borrowers from a leading online mortgage industry news publication.
Refinance Rates Rise When Borrowers Receive Cash Back
Cashout loans can cost a pretty penny
May 19, 2013
By JACK GUTTENTAG The Mortgage Professor - McClatchy-Tribune Information Services
Borrowers who withdraw cash when they refinance are viewed as riskier than those who don't, because the cash withdrawal indicates possible financial distress -- and that perception can raise a borrower's costs.
This wire news service story is no longer available.
Distributed by McClatchy-Tribune Information Services.
For reprints, e-mail [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
This story was distributed by TNS - Tribune News Service
Refinance News
News about refinance programs, pricing and production.
H A R P 2.0 News News stories about the H o m e Affordable Refinance Program including expanded program guidelines.
