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Uses of Home Equity

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06-12-2007, 03:43 PM

Veronica Corningstone Veronica Corningstone is offline

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Uses of Home Equity

The discretionary extraction of home equity accounted for 80 percent of the increase in mortgage debt since 1990, according to a working paper from the Federal Reserve Board. The analysis was prepared in order to generate discussion and critical comments. Much of the proceeds from cashout transactions was used to pay credit card debt, the report said.

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