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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: redfish who wrote (13232)	5/5/2004 10:40:52 AM
From: ldo79	Read Replies (3) of 110194

A loan officer from one of Houston's largest mortgage brokers was on a local talk show this morning. She said the number of mortgages that closed over the last "few" weeks has increased over last year - even though rates are going up. The talk show host says "hmmmmmm, that's good, huh?" The loan officer says the majority of the loans were 1yr. adj., cash-out, refi's - to pay '03 income taxes. She says all she heard was how folks are hurting for money. And then she says that it's a good idea to get everything you can out of your home's equity - 'cause it's tax deductible next year. She knows stuff. Regards, ldo79

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