Need Funds? A Cash-Out Refinance Might Be the Answer
Digital Risk’s Laura Williamson quoted in MortgageLoan.com article regarding cash-out refinancing.
“The important question for the borrower is: how do you plan to use the cash? If it’s a home renovation or college tuition or even to pay off high interest credit card debt, that may be OK,” said Laura Williamson, senior vice president of client services at Digital Risk, a loan-processing company based in Maitland, Florida. “Keep in mind, you are increasing the size of your mortgage loan. If you can’t repay this loan you could face foreclosure.”
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Article Published: November 10, 2015