Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: CalculatedRisk who wrote (14971)	11/5/2004 7:56:11 PM
From: mishedlo	Read Replies (2) of 116555

CASH-OUT REFINANCE SHARE RISES DRAMATICALLY IN THIRD QUARTER 2004 McLean, VA – In the third quarter of 2004, 60 percent of Freddie Mac-owned loans that were refinanced resulted in new mortgages at least five percent higher in amount than the original mortgages, according to Freddie Mac's quarterly refinance review. This is in contrast to the second quarter of 2004, when 42 percent of refinanced loans had higher new loan amounts. Lots more here: freddiemac.com ==================================================================== Hurry hurry step right up... Your house is your ATM Get that new SUV you have dreamed of, and a nice tax deduction too! Real estate always goes up in the long haul, just ask Japan. No wait a second I mean ask anyone but Japan. Pay off your credit cards now! By the time you have charged them back up you can refinance again. It is guaranteed!!! Want a boat, get a boat! It is as simple as that. Why sit on equity in your house when you could buy stocks? Buy the dip on Google. How long can this ponzi scheme go on? I am truly disgusted. Mish

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