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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (13191)10/10/2004 10:12:55 AM
From: mishedlo  Read Replies (1) of 116555
 
refi's
nytimes.com

Many people who refinance mortgages, of course, do so simply to lower their house payments. But the people who refinance for extra cash are as much as twice as likely to lose their homes through foreclosure than those who refinance for other reasons, according to statistics from the PMI Group, a major mortgage insurer. And most subprime loans being made today - estimates run as high as 70 or 80 percent - are debt consolidation loans like Mr. Knox's.
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