19 Jul 2021

Exercising Care and Caution with Cash-Out Financing

In 2020, the United States witnessed a real estate phenomenon. Interest rates dropped, home prices rose, and U.S. homeowners pulled out nearly $185 billion from their homes' equity through cash-out refinancing, representing the highest amount of equity pulled out since 2007. However, analysts are now warning homeowners to be cautious when pursuing a cash-out refinance. Here's why.